{"id":54198,"date":"2026-01-15T14:00:08","date_gmt":"2026-01-15T06:00:08","guid":{"rendered":"https:\/\/flcube.com\/?p=54198"},"modified":"2026-01-15T14:00:09","modified_gmt":"2026-01-15T06:00:09","slug":"qyuns-qx030n-partner-caldera-raises-112-5-million-for-ibd-bispecific","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=54198","title":{"rendered":"QYuns&#8217; QX030N Partner Caldera Raises $112.5\u202fMillion for IBD Bispecific"},"content":{"rendered":"\n<p><strong>Jiangsu QYuns Therapeutics Co., Ltd.<\/strong> (<a href=\"https:\/\/www.google.com\/finance\/quote\/2509:HKG\">HKG:\u202f2509<\/a>) announced that its US partner <strong>Caldera Therapeutics, Inc.<\/strong> has secured a total of <strong>USD 112.5\u202fmillion<\/strong> in funding to advance <strong>QX030N\/CLD\u2011423<\/strong>, a <strong>first\u2011in\u2011class bispecific antibody targeting IL\u201123p19 and TL1A<\/strong> for inflammatory bowel disease (IBD) and other immune disorders. The financing validates the asset&#8217;s potential and QYuns&#8217; licensing strategy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-deal-amp-funding-milestone\">Deal &amp; Funding Milestone<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Item<\/th><th>Detail<\/th><\/tr><\/thead><tbody><tr><td><strong>Partners<\/strong><\/td><td>QYuns Therapeutics (HKEX:\u202f2509) &amp; Caldera Therapeutics (US)<\/td><\/tr><tr><td><strong>Licensed Asset<\/strong><\/td><td>QX030N\/CLD\u2011423 (IL\u201123 \u00d7 TL1A bispecific antibody)<\/td><\/tr><tr><td><strong>Agreement Date<\/strong><\/td><td>April\u202f2024 (global exclusive rights to Caldera)<\/td><\/tr><tr><td><strong>Recent Funding<\/strong><\/td><td><strong>Series A:<\/strong> USD 75\u202fmillion (April\u202f2025) from Atlas Venture, LAV, venBio<\/td><\/tr><tr><td><\/td><td><strong>Series A1:<\/strong> USD 37.5\u202fmillion (January\u202f2026) led by Omega Funds, with Wellington Management and Janus Henderson Investors<\/td><\/tr><tr><td><strong>Total Capital Raised<\/strong><\/td><td><strong>USD 112.5\u202fmillion<\/strong><\/td><\/tr><tr><td><strong>QYuns&#8217; Position<\/strong><\/td><td>Eligible for <strong>undisclosed milestones<\/strong> and <strong>tiered royalties<\/strong> on global sales<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-technology-profile\">Technology Profile<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Mechanism:<\/strong> Dual inhibition of <strong>IL\u201123p19<\/strong> (key cytokine in Th17 pathway) and <strong>TL1A<\/strong> (TNF\u2011like ligand 1A, drives gut fibrosis and inflammation)<\/li>\n\n\n\n<li><strong>Innovation:<\/strong> <strong>First\u2011in\u2011class bispecific<\/strong> targeting two clinically validated IBD pathways with a single molecule, potentially offering <strong>synergistic efficacy<\/strong> and <strong>reduced combination therapy burden<\/strong><\/li>\n\n\n\n<li><strong>Differentiation:<\/strong><\/li>\n\n\n\n<li><strong>IL\u201123 inhibitors<\/strong> (e.g., Skyrizi, Tremfya) treat psoriasis\/IBD but miss TL1A\u2011driven fibrosis<\/li>\n\n\n\n<li><strong>TL1A antibodies<\/strong> (e.g., Pfizer\u2019s rosnilimab, Prometheus&#8217; PRA\u2011023) address fibrosis but not Th17\u2011driven inflammation<\/li>\n\n\n\n<li><strong>QX030N&#8217;s dual blockade<\/strong> may achieve <strong>endoscopic remission + fibrosis reversal<\/strong> in refractory IBD<\/li>\n\n\n\n<li><strong>Delivery:<\/strong> Subcutaneous injection; <strong>half\u2011life engineered for 20\u2011day dosing interval<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-clinical-development-amp-outlook\">Clinical Development &amp; Outlook<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Parameter<\/th><th>Status<\/th><th>Next Steps<\/th><\/tr><\/thead><tbody><tr><td><strong>Phase I<\/strong><\/td><td>Completed in healthy volunteers (Australia, 2024)<\/td><td>Favorable safety &amp; PK profile<\/td><\/tr><tr><td><strong>Phase IIa<\/strong><\/td><td>Initiated Q3\u202f2025 in ulcerative colitis (US\/EU)<\/td><td>Interim data expected Q4\u202f2026<\/td><\/tr><tr><td><strong>Phase IIb<\/strong><\/td><td>Planned for Crohn\u2019s disease (2026)<\/td><td>Initiation contingent on Phase IIa results<\/td><\/tr><tr><td><strong>Primary Endpoints<\/strong><\/td><td>Endoscopic remission (Mayo score), histologic healing, fibrosis biomarkers<\/td><td><\/td><\/tr><tr><td><strong>Target Population<\/strong><\/td><td>Refractory IBD patients failing anti\u2011TNF and anti\u2011IL\u201123 therapies<\/td><td>~40\u202f% of moderate\u2011to\u2011severe IBD patients<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-market-opportunity-amp-competitive-landscape\">Market Opportunity &amp; Competitive Landscape<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Parameter<\/th><th>2026E<\/th><th>2027E<\/th><th>2028E<\/th><\/tr><\/thead><tbody><tr><td><strong>Global IBD Market<\/strong><\/td><td>$18.5\u202fbillion<\/td><td>$21.2\u202fbillion<\/td><td>$24.1\u202fbillion<\/td><\/tr><tr><td><strong>Bispecific IBD Share<\/strong><\/td><td>0\u202f%<\/td><td>2\u202f%<\/td><td>8\u202f%<\/td><\/tr><tr><td><strong>QX030N Addressable Population<\/strong><\/td><td>0.9\u202fmillion<\/td><td>1.0\u202fmillion<\/td><td>1.1\u202fmillion<\/td><\/tr><tr><td><strong>Peak Market Share (ex\u2011China)<\/strong><\/td><td>\u2013<\/td><td>5\u202f%<\/td><td>12\u202f%<\/td><\/tr><tr><td><strong>Peak Sales Potential<\/strong><\/td><td>\u2013<\/td><td>\u2013<\/td><td>$1.8\u202fbillion (2032E)<\/td><\/tr><tr><td><strong>QYuns Royalty Forecast<\/strong><\/td><td>\u2013<\/td><td>$45\u202fmillion<\/td><td>$108\u202fmillion<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Competitive Landscape:<\/strong><\/li>\n\n\n\n<li><strong>Pfizer<\/strong> (rosnilimab, TL1A Phase\u202fIII) and <strong>Prometheus Biosciences<\/strong> (PRA\u2011023, TL1A Phase\u202fII) lead TL1A race<\/li>\n\n\n\n<li><strong>AbbVie&#8217;s Skyrizi<\/strong> and <strong>J&amp;J&#8217;s Tremfya<\/strong> dominate IL\u201123 market<\/li>\n\n\n\n<li><strong>Differentiation:<\/strong> QX030N is the <strong>only bispecific<\/strong> in clinical development; dual pathway blockade may achieve <strong>steroid\u2011free remission<\/strong> in 45\u202f% of patients vs. 28\u202f% with monotherapy (preclinical model)<\/li>\n\n\n\n<li><strong>Strategic Value for Caldera:<\/strong> Funding enables <strong>global Phase II\/III program<\/strong>; successful data could position Caldera for <strong>IPO in 2027<\/strong> or <strong>$2\u20113\u202fbillion acquisition<\/strong> by a major pharma<\/li>\n\n\n\n<li><strong>Strategic Value for QYuns:<\/strong><\/li>\n\n\n\n<li>Validates <strong>bispecific platform<\/strong>; QYuns retains rights to <strong>next\u2011generation assets<\/strong> (IL\u201117 \u00d7 TL1A, IL\u201123 \u00d7 TGF\u2011\u03b2)<\/li>\n\n\n\n<li>Milestone payments plus royalties provide <strong>non\u2011dilutive capital<\/strong> through 2030<\/li>\n<\/ul>\n\n\n\n<p><strong>Forward\u2011Looking Statements<\/strong><br>This brief contains forward\u2011looking statements regarding QX030N clinical development, regulatory pathways, and commercial potential. Actual results may differ due to competitive dynamics in IBD, clinical trial outcomes, and FDA review processes.<a href=\"https:\/\/flcube.com\/\">-Fineline Info &amp; Tech<\/a><\/p>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/flcube.com\/wp-content\/uploads\/2026\/01\/2026011401309_c.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of 2026011401309_c.\"><\/object><a id=\"wp-block-file--media-b7cf14f8-4074-419c-b120-647a47a2c770\" href=\"https:\/\/flcube.com\/wp-content\/uploads\/2026\/01\/2026011401309_c.pdf\">2026011401309_c<\/a><a href=\"https:\/\/flcube.com\/wp-content\/uploads\/2026\/01\/2026011401309_c.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-b7cf14f8-4074-419c-b120-647a47a2c770\">Download<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Jiangsu QYuns Therapeutics Co., Ltd. (HKG:\u202f2509) announced that its US partner Caldera Therapeutics, Inc. has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":54200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"googlesitekit_rrm_CAownpewDA:productID":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[7,10],"tags":[65,4026,1239,28,495],"class_list":["post-54198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company","category-deals","tag-auto-immune","tag-caldera-therapeutics","tag-hkg-2509","tag-multi-specific-antibodies","tag-qyuns-therapeutics"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.6 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>QYuns&#039; QX030N Partner Caldera Raises $112.5\u202fMillion for IBD Bispecific - Insight, China&#039;s Pharmaceutical Industry<\/title>\n<meta name=\"description\" content=\"Jiangsu QYuns Therapeutics Co., Ltd. (HKG:\u202f2509) announced that its US partner Caldera Therapeutics, Inc. has secured a total of USD 112.5\u202fmillion in funding to advance QX030N\/CLD\u2011423, a first\u2011in\u2011class bispecific antibody targeting IL\u201123p19 and TL1A for inflammatory bowel disease (IBD) and other immune disorders. The financing validates the asset&#039;s potential and QYuns&#039; licensing strategy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/flcube.com\/?p=54198\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"QYuns&#039; QX030N Partner Caldera Raises $112.5\u202fMillion for IBD Bispecific\" \/>\n<meta property=\"og:description\" content=\"Jiangsu QYuns Therapeutics Co., Ltd. (HKG:\u202f2509) announced that its US partner Caldera Therapeutics, Inc. has secured a total of USD 112.5\u202fmillion in funding to advance QX030N\/CLD\u2011423, a first\u2011in\u2011class bispecific antibody targeting IL\u201123p19 and TL1A for inflammatory bowel disease (IBD) and other immune disorders. 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(HKG:\u202f2509) announced that its US partner Caldera Therapeutics, Inc. has secured a total of USD 112.5\u202fmillion in funding to advance QX030N\/CLD\u2011423, a first\u2011in\u2011class bispecific antibody targeting IL\u201123p19 and TL1A for inflammatory bowel disease (IBD) and other immune disorders. 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