Leadingtac Pharmaceutical Co., Ltd. announced the successful completion of its Series B financing round, raising over RMB 200 million (≈ US$28 million). The round was led by Hangkang Capital, with participation from CDH VGC, New Day Fund, and Kangcheng Capital. Existing shareholder Long Rock Capital also increased its investment. Proceeds will accelerate clinical development of its IRAK4 degrader (LT‑002) and KRAS G12D degrader, expand its Shaoxing R&D Center, and advance preclinical autoimmune and oncology pipelines.
Accelerate Phase Ic indication exploration and Phase II clinical studies
KRAS G12D Degrader
Initiate Phase I clinical trials
Preclinical Pipeline
Advance other autoimmune and oncology programs
Operational Support
Full operation of Leading‑Top Shaoxing R&D Center and team expansion
Company Profile
Founded
Focus
Core Platform
2019
First‑in‑Class and Best‑in‑Class small molecule drugs
Targeted Protein Degradation (TPD)
Therapeutic Areas: Autoimmune disorders and oncology
Market Opportunity & Strategic Context
Metric
Value
Context
Protein Degradation Market
$5‑8 billion (global, 2025)
Growing at 25‑30% CAGR
IRAK4 Target
Key node in TLR/IL‑1R inflammatory pathways
High interest for autoimmune diseases
KRAS G12D Market
$2‑3 billion potential (oncology)
Undruggable target until recently; degraders show promise
TPD Platform Value
Multiple shots on goal reduces risk
Validates degrader modality across disease areas
Peak Sales Potential
¥3‑5 billion (≈ US$420‑700 M) by 2032
Assuming 2‑3 approved products
Strategic Implications
For Leadingtac:RMB 200 M provides 18‑24 month runway to reach Phase II data readouts; IIT/IND‑enabling studies on KRAS G12D derisk platform; Hangzhou location leverages local biotech ecosystem and talent.
For Investors:CDH VGC and Hangkang bring deep pharma expertise; Long Rock’s follow‑on signals confidence; Series B valuation likely RMB 800 M‑1 B range, setting up for Series C or IPO in 2027.
For Market:TPD platform is highly sought after after Arvinas’ success; IRAK4 degrader could be first‑in‑China in lupus/RA; KRAS G12D positions for oncology blockbuster; Shaoxing R&D center enhances manufacturing scalability.
Forward‑Looking Statements This brief contains forward‑looking statements regarding milestone achievements, clinical timelines, and market projections. Actual results may differ due to scientific risks, competitive dynamics, or funding constraints.-Fineline Info & Tech
By Fineline Cube 