Chimigen Bio closes first round of funding worth RMB 100M to advance immunotherapy; CTTQ Pharma, Inventiva Pharma, Merck
Sarina Yang ·09/22/2022
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Chimigen Bio closes first round of funding worth RMB 100M to advance immunotherapy

 

Chimigen Bio has closed an initial funding round worth over 100 million RMB ($14.11 million) led by Lapam Capital and followed by Puhua Capital and Kingfriend Pharma.

 

The Chengdu-based firm specializes in innovative anti-viral and anti-tumor immunotherapies. This round of financing will be used to enrich its international team and to accelerate the entry of two initial products targeting hepatitis B and prostate cancer into clinical trials.

 

Chimigen Bio has developed a proprietary SynNeogen new vaccine technology platform with dual antigen and antibody (Ab) properties. It mimics the body's natural antigen uptake, processing and presentation to induce a broad range of antigen-specific, multi-epitope immune responses.

 

The company hopes to use the platform to convert immune-tolerant antigens into neoantigens”. These would break immune tolerance and re-establish antigen-specific immunity — especially for T-cell priming — to develop a therapeutic vaccine.

 

 

In other news:

 

CTTQ Pharma has acquired an interest in the pan-PPAR agonist lanifibranor (a Phase III clinical NASH new drug) in Greater China. Inventiva Pharma will receive an upfront payment of $12 million and potential milestone payments of up to $295 million.

 

Merck announced that it will invest € 29 million ($28.52 million) to build a biosafety testing laboratory in China. The first phase of the project, a virus clearance verification laboratory, has already opened. The company plans to provide cell line verification and batch release testing services.

 

By Sarina Yang

 


Keywords: CTTQ Pharma Inventiva Pharma Merck Chimigen Bio
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