By Fineline Cube 
China-based LongBio Pharma, a developer of biomacromolecule drugs, has reportedly raised over RMB 200 million (USD 28 million) in a Series C financing round. The funding was co-led by Highlight Capital and existing investor Qiming Venture Partners, with additional contributions from Blue Bay Fund, TruMed Investment, Sanyi Capital, and other investors. The proceeds will be used to support the Phase III clinical study and commercialization of its lead asset LP-003, as well as the clinical development of investigational drug LP-005 across multiple indications.
LP-003 and LP-005 Development
LP-003, a next-generation anti-IgE antibody, is currently in Phase III study for allergic rhinitis, with marketing filing expected in early 2026. Meanwhile, LP-005, a first-in-class complement bifunctional antibody, is undergoing Phase II study for paroxysmal nocturnal hemoglobinuria (PNH). Clinical studies for LP-005 in complement-mediated nephropathy, including IgA nephropathy and C3 glomerulopathy, are scheduled to commence within this year.-Fineline Info & Tech