China-based LaNova Medicines has successfully closed a Series B financing round, raising an undisclosed sum to support its ongoing research and development efforts. The round was co-led by Qiming Venture Partners, Summer Capital, and Taikun Fund, with participation from the Shanghai Biomedicine Fund. The funds will be dedicated to advancing both clinical and pre-clinical studies within the company’s product pipelines, early-stage drug discovery initiatives, and exploring potential global partnerships.
Company Overview and Platform Capabilities
Founded in 2019, LaNova Medicines is a clinical-stage R&D company focused on the development of macromolecular anti-tumor drugs using GPCRs for monoclonal antibody production. Headquartered in Shanghai, the company boasts comprehensive platform capabilities spanning target verification, antibody engineering, production technology, and both preclinical and clinical research.
Product Pipelines and Development Milestones
LaNova Medicines has established a robust portfolio of over 10 differentiated drug pipelines. Notable candidates include LM-061, LM-102, LM-302, and LM-108, which are currently in global clinical stages. The company anticipates that two additional candidates will enter clinical trials this year. A significant milestone was achieved in May of this year when LaNova entered into a USD 1 billion licensing agreement with US-based Turning Point Therapeutics, Inc. This agreement granted Turning Point exclusive global rights (excluding Greater China and South Korea) to LM-302, an antibody drug conjugate (ADC) targeting Claudin 18.2. Additionally, LM-108, a monoclonal antibody (mAb) targeting CCR8 developed in-house, is currently undergoing Phase I/II clinical trials in China, the US, and Australia.-Fineline Info & Tech
