(VCBeat) Aug. 08, 2021 -- Chengdu Jiabao Drug Bank Pharma Technology Co., Ltd. ("Jiabao Drug Bank") today announced the closing of Pre-Series A financing of 100 million yuan. Jiabao Drug Bank is a company focused on innovative small molecule development in the fields of infection, cancer and autoimmune diseases. Led by Academician Wei Yuquan, it was established in Chengdu, Sichuan province in 2019. The company is committed to the development of class I innovative drugs in clinically urgent demands.
The latest round is led by Dingxiang Capital with participation from Probe Capital. The funds raised will be used to promote the clinical development of drugs, improve the research and development team, and expand the product pipeline globally.
Just as this round was completed, Jiabao Drug Bank also announced the establishment of a wholly-owned subsidiary in Shanghai Zhangjiang, which will focus on clinical research of drugs related to the treatment of advanced solid tumors.
JDB0131, one of the core products of Jiabao Drug Bank, has entered the phase I clinical trial. It is one of the safest drugs under clinical research for the treatment of drug-resistant tuberculosis (TB). JDB0131 has shown high safety in clinical trials, with no drug-related adverse reactions in enrolled subjects. JDB0131 is expected to enter the critical clinical stage in 2022 and apply for the certification of breakthrough therapy. It is expected to become China's first self-developed and marketed drug for drug-resistant TB, which will greatly alleviate the existing difficulties in this indication and truly provide a treatment that is affordable, safe and reliable for patients to fight drug-resistant TB.
In addition to JDB0131, Jiabao Drug Bank's main pipeline includes JDB153, the world's first drug for tumor immunity and anti-tumor angiogenesis that can save patients when anti-PD-1 therapy fails. JDB175, a highly selective BTK inhibitor with excellent penetration effect towards brain; JDB383, the only CSF1R inhibitor verified by the PDX model in the world. Those drugs all have the advantages of clinical urgent need with fewer competing products in the market.
Dingxiang Capital is a professional investment management platform set up by De Sheng Group, one of China's top 500 enterprises, with a registered capital of 500 million yuan. At present, the company has invested in aerospace, military, polymer materials, bio-medicine, pan-entertainment, TMT and national strategic emerging industries. Up to now, it has managed and participated in the management of 16 funds, with a total investment amount of about 8.2 billion yuan and a fund management scale of more than 11 billion yuan.
Probe Capital is an incubating, investment and financing platform focusing on the medical and life technology industry. Its founders are from well-known domestic medical VC and have completed billions of RMB financing. Probe Capital is the leading FA institution in China's medical and health field.