Aug. 5 China venture roundup: Hua Fang leads Guangzhou fanen pre-A

Hua Fang Investment led a pre-A round of financing for Guangzhou fanen Biotechnology Co. Ltd. of almost RMB100 million ($14.8 million) that the company will put towards IND submissions and Phase I trials of its cell therapy products. Panacea Venture and Yabao Pharmaceutical Group Co. Ltd. (Shanghai:600351) participated in the financing. Guangzhou was founded by Zhou Penghui, formerly of Harvard Medical School and the Dana-Farber Cancer Institute. 

Coherent Biopharma (Suzhou) Co. Ltd. raised an undisclosed amount of RMB in series B financing for the clinical development of its bispecific ligand drug conjugates, including tumor-targeting PROTACs and immuno-modulating drug conjugates. The financing was led by Huimei Capital with participation from Yuanfeng Capital, ABC International, Yicun Capital and others. The company said assets CBP-8088 and CBP-1008 could be the world’s first tumor-targeting PROTAC to apply for an IND and the  world’s first bispecific ligand drug conjugate to enter a Phase II registrational trial, respectively...