China-based Hangzhou Polymed Biopharmaceuticals has reportedly completed a Pre-Series A+ financing round, raising an undisclosed amount of money. The proceeds will be used to accelerate Investigational New Drug (IND) filings and clinical trials for its two pre-clinical candidate drugs.
Company Focus and Pipeline
Polymed Bio specializes in the development of bifunctional molecules targeting cancer and autoimmune diseases. The company’s product pipeline includes proteolytic targeting chimera (PROTAC) products and small-molecule inhibitors. Polymed Bio claims to have developed a candidate compound that is superior to a similar product currently undergoing Phase II clinical trials abroad. The company has also initiated Chemistry, Manufacturing, and Controls (CMC) activities to support its development programs.-Fineline Info & Tech
