Shanghai Leadingtac Pharmaceutical Co., Ltd., a China-based small molecule drug developer, has announced the successful completion of its Series A financing round, raising RMB100 million (USD 13.81 million). The round was led by Beijing Longpan Venture Capital Centre, with additional support from Tian Rui Feng Nian Investment and Shanghai Zhangke Lingyi Investment, an existing investor. The funds will be allocated to accelerate Phase I and subsequent clinical studies for its flagship IRAK4 degrader LT-002, pre-clinical development of other pipelines in auto-immune diseases and oncology, as well as the construction of an R&D center in Shaoxing and expansion of the R&D team.
Platform Technologies and Pipeline Focus
Founded in 2019, Leadingtac Pharma specializes in targeted protein degradation (TPD) drug technologies. The company boasts two proprietary platforms: Nano-SPUD, which is used for the rapid screening and development of target intracellular proteins and E3 ligases, and Lyso-SPUD, which focuses on the screening and development of target extracellular proteins. These platforms underpin the company’s innovative approach to drug discovery and development.
Strategic Use of Funds
The proceeds from the Series A financing will be instrumental in advancing the company’s first pipeline, the IRAK4 degrader LT-002, through Phase I and subsequent clinical trials. Additionally, the funds will support the pre-clinical development of other drugs in the auto-immune and oncology therapeutic areas. The construction of a new R&D center in Shaoxing and the expansion of the R&D workforce will further bolster the company’s capabilities in drug discovery and development.-Fineline Info & Tech
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