Connect raises $20M series A round

Connect Biopharmaceuticals Ltd. (Suzhou, China) said it raised $20 million in an oversubscribed series A round led by Qiming Venture Partners. Also participating were Northern Light Venture Capital, Lapan Capital and Cowin Venture Capital.

The company is planning a Phase II study of lead candidate CBP-307 to treat inflammatory bowel disease (IBD). Within a year, it hopes to begin a Phase I study of a second candidate, CBP-201, which is in development to treat atopic dermatitis and asthma. ...