QureBio Secures Almost CNY 100 Million in Series C1 Funding Led by Efung Capital

Qure Biotechnology (Shanghai) Co., Ltd. (QureBio) has successfully concluded a Series C1 financing round, securing close to CNY 100 million (approximately USD 14 million), led solely by Efung Capital. This financial boost is intended to propel QureBio’s efforts in expediting clinical trials and enhancing its portfolio of innovative antibody therapeutics.

QureBio is at the forefront of developing bispecific and multispecific antibody and protein therapeutics, aimed at treating cancer, autoimmune diseases, and inflammatory disorders. The company has crafted a range of proprietary technology platforms, including the I2T platform and T-cell and NK-cell engager platforms, which are instrumental in building its pipeline of novel drug candidates. These platforms enable QureBio to target diseases that have been challenging to treat effectively.

The company’s pipeline includes several promising developments. Among them is Q-1802, a Claudin18.2/PD-L1 bispecific antibody, which received regulatory approval in China and the U.S. to commence clinical trials in March 2021. The Phase II patient enrollment is nearly completed, and the company is gearing up for Phase III trials in China. Another candidate, Q-1801, a SIRPα/PD-L1 bispecific antibody, has also obtained clinical trial approvals in both China and the U.S. and is set to begin clinical studies. Additionally, QureBio is developing a PD-1 antibody-cytokine fusion protein, which acts as both a PD-1 checkpoint inhibitor and a cytokine modulator, offering a promising therapeutic window. This innovative approach seeks to succeed where larger biopharmaceutical companies have faced challenges, and QureBio is actively seeking partners to expedite its global expansion.

The company’s proprietary antibody engineering technology has gained significant recognition within the industry. By leveraging its platform capabilities, QureBio has partnered with notable biotechnology and pharmaceutical firms such as BRL Medicine, BioMap, Hengrui Pharma, and Precision Scientific to co-develop new therapies. These collaborations highlight QureBio’s emerging leadership in the biopharmaceutical innovation sector.

Founded in 2017 and headquartered in Shanghai, QureBio focuses on research and development in biopharmaceuticals, specializing in creating bispecific and multispecific antibodies to address critical needs in oncology, autoimmune diseases, and inflammation-based disorders. The company’s multiple proprietary technology platforms for antibody discovery and engineering underpin a robust pipeline of drug candidates aimed at addressing unmet medical needs both in China and globally.

Xiangdong Qu, the founder of QureBio, expressed gratitude towards Efung Capital for its continued support and trust. He emphasized the company’s commitment to developing pioneering biopharmaceuticals using its unique bispecific and multispecific antibody technology platforms. QureBio aims to develop therapies that meet unmet clinical needs, including malignancies, autoimmune diseases, and inflammatory disorders, while also seeking collaborations to benefit patients worldwide.

Rongkui Fan, the lead investor from Efung Capital, expressed optimism about Q-1802’s progression to Phase III trials, particularly for gastric cancer treatment. He acknowledged the company’s founding team’s deep understanding of tumor immunology and their experience in leading R&D efforts at major pharmaceutical companies. The team’s efficiency in target validation, molecular design, and process development has resulted in an early-stage differentiated R&D pipeline covering solid tumors and autoimmune diseases.

Efung Capital, one of China’s earliest professional biopharmaceutical investment bodies, emphasizes global biopharmaceutical investments. Renowned for its strong investment performance, Efung Capital has invested in numerous high-quality companies and has earned several industry accolades. The firm aims to drive biotechnology industrialization through strategic capital investment.