China Venture Quick Takes: Pyrotech raises $97M series A 

Beijing-based Pyrotech Therapeutics raised a RMB700 million ($97 million) series A round of financing for its pipeline that includes pyroptosis inhibitors and innate immune modulators. The financing was co-led by SDIC Venture Capital and China Venture Capital, with participation from Taiping Medical and Health Fund, China Life Technology Innovation Fund, Lotus Lake Capital, as well as existing investors MSA Capital, Lilly Asia Ventures, FreesFund, Life Park Venture Capital Fund, BioTrack Capital, Greenwaters Fund and Beijing Changfa Industrial Operation Management. Pyrotech said it expects to start clinical trials this year of an undisclosed number of innate immune agonists. The company has raised more than RMB1 billion since it was founded in 2009. 

Suzhou Xinkanghe Biomedical Technology Co. Ltd. raised a series B+ round exceeding RMB100 million for its pipeline of immunology programs. Suzhou Gaote Jiaxin Yinhuixin Fund led the financing, with participation from investors including Beijing Life Garden Venture Capital, Guangzhou Xintai, Yangzhou Fengsheng, Lotus Lake Ventures, Northern Light Venture Capital and CD Capital. The company’s pipeline includes XKH004, which targets IL-17A and IL-17F to treat psoriasis and ankylosing spondylitis; XKH001, which targets IL-25 to treat autoimmune and inflammatory diseases; and XKH002, which targets B7-H4 to treat undisclosed cancers. ...