XW Laboratories, a China-based biopharmaceutical research and development company focused on neurological disorders, has raised $17.5m in series B financing from investors including pharmaceutical companies Johnson and Johnson and WuXi AppTec.
The round was co-led by Elements Capital and WI Harper, and included Kleiner Perkins Caufield & Byers (KPCB) China and KTB Network. The corporates participated through corporate venturing units Johnson and Johnson Innovation – JJDC and WuXi Ventures.
XW Laboratories is working on compounds based on specialised drug platforms that will help treat neurological disorders.
The company’s first two platforms are being developed to enhance the safety profiles and improve the body’s reaction to existing drugs, while the third is focused on reducing damage to the mitochondria of cells, which has been linked to several neurological disorders.
Jia-Ning Xiang, founder and chief executive of XW Laboratories, said: “Our company is entering a critical stage where we anticipate at least one program to enter clinical trials per year starting in 2018.”
The round brings the total raised by XW to $23m. Johnson and Johnson Innovation – JJDC and WuXi Ventures were also involved in a 2014 series A round for the company, which was led by KPCB China and which the company revealed when announcing its series B funding.