Nanjing Qingpu raises ~$89M Series C for late-stage drug pipeline

What's the deal? Chinese drugmaker Nanjing Qingpu Biotechnology has closed a Series C round of about 600 million CNY (roughly $89 million). The round was co-led by Jiangsu High-Tech Investment Group, Yifeng Capital, Sunshine Ronghui Capital, and Oriza HoldingsDealroom has a profile for this one. Try Dealroom →.

Who else is in? Participating investors included Guangyao Capital, Jiangsu Nongken Biotechnology Fund, CSC CapitalDealroom has a profile for this one. Try Dealroom →, Tailong InvestmentDealroom has a profile for this one. Try Dealroom →, Guangdong Traditional Chinese Medicine Health FundDealroom has a profile for this one. Try Dealroom →, Guoxin Hongsheng, Guangzhou Chantou Capital, Hunan Caixin Industrial Fund, BOC CapitalDealroom has a profile for this one. Try Dealroom →, and Guoju Venture CapitalDealroom has a profile for this one. Try Dealroom →. Existing backers Nanjing Innovation Investment GroupDealroom has a profile for this one. Try Dealroom → and Shengjing Jiacheng added to their stakes.

What's the endgame? The company will use the funds to advance clinical development and indication expansion for three late-stage pipeline programs. It also plans to file investigational new drug (IND) applications and run trials for several small-molecule candidates built on novel targets.

The signal: The breadth of the investor list — spanning provincial funds, industry players, and returning shareholders — points to steady institutional backing for China's small-molecule drug developers targeting unmet global clinical needs.

Read more: Jiemian News

Image credit: foteih