The latest news, Maibosi Biomedical (Suzhou) Co., Ltd. (hereinafter referred to as "Mibbo Bio") recently completed a $40 million Series B financing led by Sequoia Capital China Fund. In addition to the last round of investors Lilly Asia In addition to the fund and the current round of investor Sequoia China, Maibos has also added King Star Capital as its investor.
Founded in 2013, Maibos Bio was founded by Dr. Qian Xueming, an antibody pharmaceutical expert and chief scientist who has worked for more than a decade at AMGEN, specializing in the discovery and development of innovative antibody-based therapies for therapeutic impact. Cancer and fibrotic diseases of the lungs, kidneys and liver.
The funding will be used for the clinical development of the company's second-generation PD-L1 antibody at the clinical stage, as well as for the clinical declaration of multiple follow-up products. MSB2311 has initiated Phase 1 clinical trials in the United States. Maibos is expected to launch at least one registered clinical trial for the listing of products in the second half of 2019, as well as a number of clinical studies on combined use. MSB2311 has a unique pH-dependent combination with PD-L1. In preclinical studies, MSB2311 showed better tumor tissue targeting and penetration capabilities. This feature makes it possible to demonstrate better efficacy and safety in the clinic. In addition, its second project, MSB0254, is expected to apply for IND in mid-2018. In the next 18 months, there will be another 1-2 innovative antibodies to complete CMC work and preclinical studies, ready to declare clinical.
"Sequoia China is in the leading position in the healthcare industry, and we are honored to receive support from our new investors such as Sequoia China, and we are very grateful to Lilly Asia for its continued support." Chairman of Maibos Bio/ Dr. Qian Xueming, CEO, said, “Our team has made great efforts on the company's innovative product line. This round of financing will ensure that we push the MSB2311 project to the key registration clinical research stage and continue to promote other products. Enter the clinic."
Lu Qiu Capital China Fund Partner Lu Yibo said: "Innovative medicine and innovative biotechnology are one of the important directions for Sequoia China's investment in medical and health fields. Maibos Bio-Immune Tolerance Breakthrough Technology Platform (IMBT) can help find Antibodies that cover a more comprehensive epitope space. The company used the platform to find multiple second-generation tumor immunomodulatory antibodies against multiple targets in the tumor microenvironment. These projects can be combined not only in clinical but also in the market. There are different combinations of drugs. We expect the team to bring innovative antibody drugs to market quickly to benefit patients all over the world.
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