Tyligand Bioscience Co., Ltd. ("Tyligand ") announced the completion of a multimillion-dollar Series A+ financing

发布时间:2023-07-08 浏览数:11次

Shanghai, July 8, 2023 - Tyligand Bioscience Co., Ltd. ("Tyligand ") announced the completion of a multimillion-dollar Series A+ financing. This round was led by Ming Ventures, with participation from Taikun Fund, Yuanfeng Capital, Shengdi Investment, and Calor Capital as co-investors. Existing shareholders CMS Capital and Bohe Angel Fund also increased their stake. The capital raised will primarily be used to accelerate the advancement of multiple projects in Tyligand’s innovation pipeline, including clinical trials in both US and China.

Tyligand Bioscience is dedicated to discovering and developing highly differentiated small molecule therapies to provide more effective treatment options for drug resistant tumors include lung, pancreatic, and triple-negative breast cancers. The founding team has a strong track record in the field of small molecule drug discovery and development, and has a wealth of management and operational experience in multinational pharmaceutical companies as well as emerging biotechs. The company focuses on addressing unmet clinical needs with structurally intriguing small molecules and their conjugates, with several candidates having entered into clinical stage development. TSN084, a multi-kinase inhibitor targeting CDK8/19 and other kinases closely associated with tumor proliferation and immune suppression, is currently undergoing Phase I clinical trials in both US and China and has recently received FDA orphan drug designation for treating AML. With the prevailing trend in the kinase field moving towards highly selective inhibitors against a single target, the excellent tolerability and ability of TSN084 to launch a multi-targeted attack provide possibilities to address drug resistance and immune evasion. TSN222 is a global 1st dual-acting tumor immune agonist (DATIA®) with differentiated design from traditional immune agonists. Preclinical data indicated that TNS222 was capable of sequentially activating the innate immune system and selectively killing tumors, thereby leading the establishment of durable adaptive immune memory and controlling the proliferation of distal tumors. This compound has also received approval for clinical trials in both US and China. Additionally, Tyligand has demonstrated the effectiveness of DATIA® series of molecules as payloads for antibody-drug conjugates, and has attracted multiple collaborators.

Dr. Tony Zhang, founder and CEO of Tyligand, stated, "We are extremely grateful for the support from Ming Ventures and co-investors. This round of support not only serves as an encouragement to the Tyligand team but also as a recognition of the differentiated pipeline built from the Tyligand’s on unique molecule design platform. We will continue to push forward the pipeline with utmost efficiency and creativity, making medicines with greater clinical value for the waiting doctors and patients."

Ming Venture stated, "We are extremely grateful for the support from Ming Ventures and co-investors. This round of support not only serves as an encouragement to the Tyligand team but also as a recognition of the differentiated pipeline built from the Tyligand’s on unique molecule design platform. We will continue to push forward the pipeline with utmost efficiency and creativity, making medicines with greater clinical value for the waiting doctors and patients."

About Tyligand Bioscience
Founded in 2018, Tyligand Bioscience is a clinical-stage biotechnology company focused on the development of drugs to treat resistant tumors. Based on the concept of creative connection between active ligands and the second functional group ((tie-ligand) and deep understanding of the modulation of phosphorylation of biomolecules and associated signaling pathways, the company is committed to building a highly differentiated innovative pipeline, including novel phosphatase inhibitors, Dual-Acting Tumor Immune Agonist platform (DATIA®), and an innovative payload platform for antibody-drug conjugates (ADCs).

About Ming Ventures
Ming Ventures focuses on early-stage venture investment in the life sciences fields. Since its establishment in 2018, it has invested in nearly 50 entrepreneurial companies in the fields of innovative drugs, biotechnology, and medical devices (including diagnostics). Ming Venture has always focused on global unmet medical needs, providing comprehensive support and nurturing the growth of enterprises.

About CMS
CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet healthcare needs. CMS focuses on developing first- or best-in-class innovative products and has made the layout of 30 differentiated pipeline products with strong market potential. CMS deeply engages in specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. The Group continues to strengthen the competitiveness of its cardio-cerebrovascular/gastroenterology business, and independently operated dermatology and medical aesthetic business, and ophthalmology business, whilst enhancing the scale and efficiency. CMS also entered into the Southeast Asian market to create new opportunities to further enhance the sustainable development of the Group.

About Taikun Fund
Taikun Fund is a biomedical industry fund jointly initiated by Tigermed, Hangzhou State-owned Capital Investment and Operation Co., Ltd., Hangzhou High-tech Venture Investment Co., Ltd., and Hangzhou Tailong Venture Investment Enterprise (Limited Partnership) in 2021. Based on Tigermed's clinical CRO industry layout and in line with the development strategy of Hangzhou's biomedical industry, Taikun Fund adopts market-oriented operations and focuses on innovative medical devices, biopharmaceuticals, medical services, medical informatization, digital therapy, intelligent manufacturing, and nutritional health enterprises, covering various stages of enterprise development.

About Suzhou Harvicapital
Founded in 2020, Suzhou Harvicapital Management Co., Ltd. (hereinafter referred to as "Harvest Capital") is a state-owned private fund management company of Suzhou Industrial Park, with a registered capital of 50 million. At present, Harvest Capital is managing 12 billion RMB, of which 10 billion is government industry guidance fund and 2 billion is Fund of Angel Funds. The mission of Harvest Capital is to accelerate the construction of Suzhou Industrial Park into a domestically leading and internationally renowned high-tech industrial park and to promote innovation and entrepreneurship.

About BOHE Angel Fund
Founded in 2015, BOHE Angel Fund is the first China angel fund focusing on early stage investments of innovative biotechnologies and healthcare industry globally. BOHE dedicates to be the leading explorer, incubator and technology transforming platform for the best China originated technologies in life science. Together with top notch scientists and entrepreneurs, the experienced investment team of BOHE targets on innovative drug development based on cutting-edge life sciences, and innovative biotechnologies solution of Precision Medicine. BOHE has been managed to improve the development speed and successful rate of its portfolio based on its deep knowledge of technology transformation paths and cycles.

About Calor Capital
Calor Healthcare is a medical fund under Calor Capital that focuses on investing in the biotechnology, IVD (In Vitro Diagnostics), and CRO (Contract Research Organization) sectors in China. We have made investments in several leading biopharmaceutical and medical device companies in China. With extensive experience in the capital market and a wide network of contacts in the pharmaceutical industry, Calor has been involved in over twenty successful IPOs of projects in which our team participated.