GluBio Pharmaceutical Co., Ltd, a Zhejiang-based specialist in molecular glue targeted protein degradation (TPD), reportedly raised USD 22 million in a Series A+ financing round. The round brings the company’s total funding to USD 90 million since its founding in March 2023. Existing investor Qiming Venture Partners led the round, with contributions from Lilly Asia Ventures and Kaitai Capital.
Funding Use
Proceeds will support GluBio’s product pipeline and upgrade its protein degradation drug development platform. The company focuses on next-generation molecular glue and proteolysis targeting chimeras (PROTAC).
Technology Platforms
GluBio’s platforms include a multi-dimensional protein degradation screening system, an innovative target verification tool, a molecular glue rational design platform, and a proprietary high-activity molecular library. These drive the development of its TPD and PROTAC candidates.
Product Pipeline
- Two potential best-in-class molecular glue products for relapsed/refractory hematoma are set for Investigational New Drug (IND) filings in early 2024.
- Three first-in-class protein degradation drugs targeting solid tumors and inflammatory diseases are in lead compound optimization.-Fineline Info & Tech
