9 January 2018 - - Jinan, China- and Philadelphia, Pennsylvania-based biotechnology company KBP Biosciences has closed a USD 76m series A financing co-led by Advantech Capital and SDIC Venture Capital, the company said.
Additional participants in the financing are Sangel Capital, Ping An Ventures, Bay City Capital GF XINDE Life Science Investment Fund, Efung Capital, CASH Capital, Cowin Capital Group, Korea Investment Partners and Elite Capital.
The proceeds from the series A will be used to expand the business and operational structure of the company, including the opening of global corporate headquarters in the Greater Philadelphia Area, to advance the clinical development of its lead candidate KBP-5074, a mineralocorticoid receptor antagonist for cardiovascular disease entering Phase 2b; and to support other promising programs in the pipeline.
In addition to KBP-5074, the company has several candidates in preclinical and early-stage clinical development, including KBP-7072, a 3G aminomethylcycline for multi-resistant bacterial infections, and KBP-7026, a novel CRTH2 receptor antagonist targeting asthma/COPD.
Advantech Capital, launched in January 2016 by Jianming Yu, is a private equity fund, focused on innovation-driven growth capital in China.
SDIC Venture Capital Co., Ltd. is an independent private equity fund management company established in 2016 that currently advises and manages over RMB 12 bn of capital for three funds to support the transformation of scientific and technological achievements.
KBP Biosciences is dedicated to the research and development of innovative medicines that treat unmet medical needs of patients throughout the world.
The company has developed a medicinal chemistry platform and preclinical development team to identify and progress products with known mechanisms of action in areas of unmet medical need in cardiovascular, infectious disease, respiratory, inflammatory and autoimmune diseases.