China-based Lupeng Pharmaceutical Ltd has reportedly raised USD 35 million in Phase 2 of a Pre-Series B financing round. The round was led by Kaitai Capital and Temasek, with participation from Lilly Asia Ventures, Fontus Capital, and Lake Bleu Capital. The proceeds will be used to support clinical studies for investigational drugs LP-168, the Bcl-2 inhibitor LP-108, and LP-118, among others.
Company Profile
Founded in 2018, Lupeng Pharma is focused on the research and development of novel drugs targeting malignant tumors, autoimmune diseases, hepatitis B, and other diseases. The company has multiple clinical trials underway in China, the United States, and Europe. With this latest funding, Lupeng Pharma has now amassed a total of USD 110 million, positioning itself to advance its innovative drug pipeline.
Future Implications
The Pre-Series B financing round marks a significant milestone for Lupeng Pharma, providing the necessary capital to accelerate its clinical development efforts. By leveraging the support of leading investors, Lupeng aims to bring its investigational drugs closer to market, addressing significant unmet medical needs in oncology and other therapeutic areas.-Fineline Info & Tech
