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Zhong Lun Assists LaNova Medicines in Completing its CNY 300 Million Series C1 Financing and Entering into Strategic Collaboration with Sino Biopharm

Release time：2024-11-27 Voice Announcements

LaNova Medicines Technology (Shanghai) Co., Ltd. (“LaNova Medicines”) announced that it has recently completed its CNY 300 million Series C1 financing. This round of financing was led by Sino Biopharmaceutical Limited (“Sino Biopharm”), a well-known Chinese biopharmaceutical company, with participation from Pudong Venture Capital, Zhangjiang Haoheng, and existing investors Qiming Venture Partners and Shanghai Healthcare Capital. The proceeds raised in this round will primarily be used to accelerate the clinical progress of LaNova Medicines’ clinical stage pipelines, particularly LM-302 and LM-108, as well as to support LaNova Medicines’ independently developed antibody discovery platform, next-generation ADC technology platform, and bispecific antibody technology platform.

Concurrently with the Series C1 financing, LaNova Medicines entered into a strategic collaboration agreement with Sino Biopharm concerning LM-108 for the Chinese mainland market.

LaNova Medicines, founded in 2019 by experienced professionals in the biopharmaceutical industry, is a China-based global biopharmaceutical company. With the mission of “Care for Life, Dedicate to Innovation”, LaNova Medicines focuses on addressing unmet medical needs in tumor immunity and the tumor microenvironment. LaNova Medicines is dedicated to developing innovative biological drugs with global “first-in-class” and “best-in-class” potential. LaNova Medicines has comprehensive end-to-end R&D capabilities, with a particular emphasis on the development of macromolecular anti-tumor drugs targeting GPCR and multi-transmembrane proteins. LaNova Medicines also owns ADC drug and bispecific antibody drug development platforms, implementing a differentiated drug development strategy.

LM-108, developed independently by LaNova Medicines based on its exclusive multi-transmembrane protein antibody discovery platform, is a monoclonal antibody targeting CCR8. LM-108 is currently in Phase II clinical trials. Early exploratory clinical research has demonstrated that LM-108 exhibits a favorable safety profile and demonstrates significant efficacy in the treatment of various solid tumors, offering the potential to provide improved treatment options for patients with advanced cancers.

As LaNova Medicines’ long-term legal advisor, Zhong Lun Law Firm provided comprehensive assistance in these transactions, including structure design, drafting transaction documents, participating in negotiations, and managing the closing of the Series C1 financing and strategic collaboration. Catherine Chen (partner) was responsible for managing the entire mandate, with the equity financing aspect led by Shaun Gao (partner), and the strategic collaboration led by Jim Qiu (partner) and Tom Yu (non-equity partner). Team members also included associates Yian Huang, Lilla Guo, and Ying Huang. Wei Du (partner) provided significant support in the domestic capital markets domain.

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Zhong Lun Assists LaNova Medicines in Completing its CNY 300 Million Series C1 Financing and Entering into Strategic Collaboration with Sino Biopharm