RemeGen is a leading biopharmaceutical company with fully integrated capabilities in research and discovery, clinical development, manufacturing and commercialization of biologic drugs. Founded in 2008, RemeGen is focused on the research and development of innovative biologics in the therapeutic areas of autoimmune, cancer and ophthalmology diseases. In 12 years, the company has built a prolific pipeline of over 10 innovative molecules with 2 molecules, spanning 5 disease indications, in Phase III or pivotal trials in China. RemeGen currently has one new drug application filed in China.
"It is a great honor to receive the recognition and support from the top investment institutions in the biomedical space," said Jianmin Fang, Ph.D., founder and CEO of RemeGen. "Reaching this funding milestone will allow us to further pursue our vision of developing biologics of the future. Through research, development, manufacturing and commercialization of novel biologics – most notably monoclonal antibodies (mAb) and antibody-drug conjugates (ADCs) – RemeGen aims to fulfill the unmet medical needs of patients everywhere facing conditions such as autoimmune diseases and cancer, bringing us one step closer to the future of medicine."
This funding will support RemeGen's early stage drug discovery platform, continued development of the company's R&D pipeline and the expansion of its manufacturing facilities. The proceeds of the financing will also advance the commercialization efforts of RemeGen's two lead molecules, RC18 (telitacicept) and RC48. Telitacicept is a fusion protein with a new drug application filed in China for systemic lupus erythematosus (SLE). It is also currently in Phase II or Phase III trials for 6 other autoimmune disease indications. RC48, a HER2 ADC for the treatment of various solid tumors, is currently in pivotal clinical trials for gastric and urothelial cancers.
"We are honored to lead this round of funding," says Dr. Fei Chen, Managing Partner of Lilly Asia Ventures. "As a long-term investor, we look forward to partnering with RemeGen to become a leading global biopharmaceutical. We believe that the biologic drugs innovated by RemeGen will continue to benefit patients at home and abroad."
RemeGen, Ltd. ("RemeGen") is a leading biopharmaceutical company in China dedicated to fulfilling unmet medical needs for patients with life-threatening conditions. RemeGen's main focus is research and development, manufacturing and commercialization of novel biologics, most notably monoclonal antibodies (mAb) and antibody-drug conjugates (ADCs). Headquartered in Yantai, Shandong Province, China, RemeGen has labs/offices in Beijing and California. Since its inception in 2008, RemeGen has created more than 10 novel drug molecules that are in various stages of clinical development. Currently, there are two products in late stage clinical development to treat autoimmune and oncology indications.
For more information about RemeGen, please visit: www.remegen.com
About Lilly Asia Ventures
Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm founded in 2008, with offices in Shanghai, Hong Kong, and Palo Alto. Our vision is to become the trusted partner for exceptional entrepreneurs seeking smart capital and to build great companies developing breakthrough products that can treat diseases and improve human health.
About Lake Bleu Capital
Lake Bleu Capital is an investment platform that specializes in healthcare in Asia/Greater China. As one of the largest healthcare public equity funds in Asia, the USD public equity fund under Lake Bleu Capital has won multiple industry-leading performance awards for the region of Asia ex-Japan. Meanwhile, Lake Bleu Capital has also focused on private equity investments in the Chinese healthcare industry, successfully completing multiple investments in flagship innovative companies across different healthcare subsectors.
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HBC promotes an integrated team culture emphasizing collaboration and cross-pollination of ideas across sectors and strategies. Our dedicated investment team seeks to achieve outstanding performance by investing in companies that are poised for growth or are undervalued while maintaining a focus on risk management.