QL Biopharm, a Beijing-based developer of Escherichia coli-based protein drugs, has reportedly raised RMB 100 million (USD 14.46 million) in a Series B financing round. The round was led by Bluerun Ventures, with additional participation from Taizhou Pharmaceutical Hi-tech Zone Huayin Financial Investment, Lichen Private Equity Fund, and Mingfeng Capital. The proceeds will be directed towards clinical development and the construction of manufacturing facilities, furthering the company’s growth and product pipeline.
Company Background and Pipeline
Founded in 2018, QL Biopharm is focused on the development of treatments for chronic metabolic diseases. The company has initiated a Phase I clinical study for its long-acting GLP-1 receptor agonist, which is expected to offer once-monthly administration. This innovative approach aims to improve patient compliance and treatment outcomes. Additionally, QL Biopharm has secured clinical approval for its semaglutide biosimilar in China, marking a significant step in the company’s development and regulatory progress.
Future Prospects
The Series B financing round is a crucial milestone for QL Biopharm, providing the necessary capital to advance its clinical studies and expand its manufacturing capabilities. With a focus on chronic metabolic diseases, QL Biopharm is well-positioned to address significant unmet medical needs and contribute to the development of more effective and convenient treatment options. The support from leading investors reflects confidence in the company’s technology and potential to make a meaningful impact in the biopharmaceutical sector.-Fineline Info & Tech
