Guangzhou-based AI biotech Fermion has raised over RMB100 million ($14.8 million) in a Series B financing round led by iFLYTEK Venture Capital, Zhengxuan Capital, Panda Capital, and Challenjers Venture Capital. The funds will advance its core drug pipelines, including a Phase I clinical study for FZ002, a chronic pain candidate, and upgrades to its Drug Studio AI platform.
Company Background
Fermion focuses on central nervous system (CNS), autoimmune diseases, and refractory tumors, leveraging its Drug Studio AI platform for drug discovery. The firm has 10 drug candidates in development, with four licensed to partners. FZ002, a chronic pain killer, filed for IND approval in China and the U.S. in April 2024.
Financing Details
Proceeds will support efficacy proof-of-concept validation, pre-clinical development of other pipelines, and enhancements to Fermion’s AI R&D platform and team. The Series B round underscores investor confidence in AI-driven drug development.-Fineline Info & Tech
