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Maibos Bio announces completion of US $ 40 million Series B financing to accelerate clinical project advancement

Maibos Bio announces completion of US $ 40 million Series B financing to accelerate clinical project advancement

  • Categories:Company News
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  • Time of issue:2019-11-28 14:52
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(Summary description)Suzhou, China-(BUSINESS WIRE)-(BUSINESS WIRE)-Mybos Bio, a new antibody drug development company in the clinical development stage, recently announced the completion of a $ 40 million led by Sequoia C

Maibos Bio announces completion of US $ 40 million Series B financing to accelerate clinical project advancement

(Summary description)Suzhou, China-(BUSINESS WIRE)-(BUSINESS WIRE)-Mybos Bio, a new antibody drug development company in the clinical development stage, recently announced the completion of a $ 40 million led by Sequoia C

  • Categories:Company News
  • Author:
  • Origin:
  • Time of issue:2019-11-28 14:52
  • Views:
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Suzhou, China-(BUSINESS WIRE)-(BUSINESS WIRE)-Mybos Bio, a new antibody drug development company in the clinical development stage, recently announced the completion of a $ 40 million led by Sequoia Capital China Fund B round of financing. In addition to the last round of investors Eli Lilly Asian Fund and the lead investor Sequoia China, Maibos has also added King Star Capital as its investor. The funds will be used for the clinical development of the company's second-generation PD-L1 antibody in the clinical stage, as well as for the clinical application of multiple follow-up products.

 

"Our team has made great efforts on the company's innovative product line. This round of financing will ensure that we will advance the MSB2311 project to the key registered clinical research stage and continue to promote other products into the clinic."

 

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MSB2311 has started Phase 1 clinical trials in the United States. Maibosi expects to launch at least one registered clinical application for product listing in the second half of 2019, and to conduct multiple clinical studies of combined drugs. MSB2311 has a unique pH-dependent binding to PD-L1. In preclinical studies, MSB2311 has shown better tumor tissue targeting and penetration. This feature makes it possible to show better effectiveness and safety in the clinic. In addition, the company's second project, MSB0254, is expected to apply for IND in mid-2018, and within the next 18 months, there will be another 1-2 innovative antibodies to complete CMC work and preclinical research and prepare for clinical application.

 

"Sequoia China is a leader in investment in the medical and health field. We are very honored to receive the support of our company from new investors such as Sequoia China, and we are very grateful for the continued support of Eli Lilly Asia." Chief Executive Officer Dr. Xueming Qian said, "Our team has made great efforts on the company's innovative product line. This round of financing will ensure that we advance the MSB2311 project to the stage of key registered clinical research and continue to promote other products. Enter the clinic. "

 

Lu Xiaobo, a partner at Sequoia Capital China Fund, said: "Innovative drugs and innovative biotechnology are one of the important directions for Sequoia China's investment in the field of health care. Maibos Bio's immune tolerance breakthrough technology platform (IMBT) can help discover Antibodies covering a more comprehensive epitope space. The company uses the platform to discover multiple second-generation tumor immunomodulatory antibodies against multiple targets in the tumor microenvironment. These projects can not only be combined with each other clinically, but can also be integrated with the market. There are different combinations of drugs. We look forward to the Maibos team bringing innovative antibody drugs to the market for the benefit of patients around the world. "

 

About Maibos Bio:

 

Maibos Bio is an international biotechnology company focused on using its immune tolerance barrier breakthrough technology to develop innovative antibody drugs. Maibos Bio has established a product pipeline focusing on immunotherapy, ophthalmology and kidney disease. Maibos Bio is headquartered in Hong Kong and has an integrated R & D center from antibody discovery to clinical development in Suzhou Industrial Park.

 

About Sequoia Capital China Fund:

 

Sequoia Capital is always committed to helping entrepreneurs become great companies that have a long history of foundation, bringing rich global resources and valuable historical experience to member companies. For 46 years, Sequoia Capital has invested in many innovative companies, including Apple, Cisco, Oracle, Google, Alibaba, Airbnb, Jingdong and other industry trend leaders. As "the entrepreneur behind entrepreneurs", Sequoia Capital China Fund focuses on investment opportunities in four directions: technology / media, healthcare, consumer goods / services, and industrial technology. For 13 years, Sequoia Capital China Fund has invested in more than 500 companies. Sequoia China has invested a total of nearly 70 innovative companies in the medical and health sector with a total investment of nearly RMB 10 billion. Most of these outstanding companies have become leaders in their respective sub-sectors, such as Beida Pharmaceuticals, Jianfan Biotechnology, China Big genes, new industry organisms, WuXi Biology, WuXi Kant, Zaiding Medicine, etc. For more information, please visit www.sequoiacap.com/china

 

About Eli Lilly Asia Fund:

 

Lilly Asia Ventures was established in 2008, focusing on equity investments in biomedicine, biotechnology, medical devices, medical services and animal health in Asia, especially China. As a leading biomedical venture fund, Eli Lilly Asia Fund provides “smart capital” and global resources to target companies to accelerate their growth.

 

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Maibos Bio

Dr. Xueming Qian, + 86-512-68364790

qianxm91377@mabspacebio.com

www.mabspacebio.com

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