Antibody drugs developer Qyuns Therapeutics closes Series B+ round, raises tens of millions of yuan

Qyuns Therapeutics has completed the second phase of Series B financing round, raising tens of millions of yuan. The funding was led by Lucky Source Funds and joined by Jiayin Asset Management.

Qyuns Therapeutics has completed the second phase of Series B financing round, raising tens of millions of yuan. The funding was led by Lucky Source Funds and joined by Jiayin Asset Management.

Prior to this, Qyuns Therapeutics has completed a Series B round, obtaining hundreds of millions of yuan. It was led by Hongtai Capital Holdings, with participation from Triwise Capital and others. The company’s Series B round has tallied a cumulative financing amount of hundreds of millions of yuan.

Qyuns Therapeutics was established in June 2015, focusing on the development and production of antibody drugs, mainly targeting the field of immune-related diseases with huge market potential and specialized therapeutic drugs that are still blank in China, and jointly cooperated with partners at home and abroad to develop “Bio-similar” And “Bio-better” new antibody drugs. Previously, the company has signed a global strategic cooperation agreement with Seneca Biopharma of the United States for the treatment of immune-related diseases with innovative monoclonal antibodies.

Leading investor Lucky Source Funds believes that Qyuns Therapeutics focuses on the research and development of biologics with a huge market for autoimmune diseases, avoids hot and competitive areas such as cancer and cardiovascular diseases, and maintains its own characteristics and advantages; the fruition of production bases can be give full play to cost advantage; in addition, its core products under development are among the first echelon in the industry in China.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/10/antibody-drugs-developer-qyuns-therapeutics-closes-series-b-round-raises-tens-of-millions-of-yuan/.

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