China-based E-nitiate Biopharmaceuticals (Hangzhou) Co., Ltd, a drug developer focused on autoimmune diseases, has raised RMB 100 million (USD 14.5 million) in a Series A financing round. The round was led by M Momentum Venture and included contributions from Tailong Capital, Hangzhou Linping State-owned Capital Investment, and Hangzhou Jintou Industry Fund Management.
Company Background
Founded in 2020, E-nitiate Bio has advanced its QY201 and QY101 candidates into clinical trials and is preparing multiple pipelines for IND filings. The company specializes in developing therapies for autoimmune diseases, aiming to address unmet medical needs.
Funding Details
Proceeds from the Series A round will be used to propel clinical studies and expand E-nitiate Bio’s product pipeline. The funding underscores investor confidence in the company’s R&D capabilities and growth potential in the autoimmune disease market.
Strategic Outlook
E-nitiate Bio plans to leverage the funds to accelerate clinical development and strengthen its position in the autoimmune disease space. The company aims to bring innovative therapies to patients globally.-Fineline Info & Tech
