China-based antibody drug developer Trinomab closed a RMB450m ($69.3m) series A round yesterday featuring pharmaceutical company China Medical System and contract drug development and manufacturing organisation WuXi Biologics, DealStreetAsia reported.
GL Ventures, the venture capital branch of hedge fund manager Hillhouse Capital, led the round, which also featured state-owned enterprise group Guolian Group, while WuXi Biologics took part through its industry investment fund.
Trinomab is using its HitmAb technology platform to develop antibody-based therapeutics to treat infectious and autoimmune diseases, in addition to malignant tumours.
More precisely, conditions Trinomab is targeting include respiratory syncytial virus, human cytomegalovirus, varicella-zoster virus and human nerve growth factor. The series A funds will be directed to funding preclinical work and clinical trials for its pipeline of drug candidates.
The state-backed Jinhang Industry Investment had led a $43.7m pre-series A round for the company in 2018, three years after it was founded.
