5Y News｜Aikelian Biotechnology Completes $68.7 Million Funding Round

Excalipoint Therapeutics, a biotech company focused on developing next-generation T-cell engager (TCE) therapies for oncology and autoimmune diseases, has announced the completion of an oversubscribed $68.7 million financing round. The proceeds will be used to advance its proprietary technology platforms and differentiated TCE pipeline.

The financing comprised two tranches: a $41 million founding round completed in August 2025, shortly after the company's establishment, co-led by HSG, Xingze Capital, and Yuanbio Venture Capital, with participation from 5Y Capital, Kaiwind Investment, Med-Fine Capital, and Hony Capital. This founding round ranks among the largest for a Chinese biotech startup.

Within just six months, the company rapidly achieved full operational scale and made significant clinical progress, securing a $27.7 million extension round. This tranche was co-led by Matrix Partners China and Centurium Capital, with support from international investors including LAV (Lilly Asia Ventures) and Eisai Innovation Inc., while existing investors Xingze Capital and 5Y Capital also made additional commitments.

Excalipoint was co-founded by Dr. Lei Fang and Mr. Jaylen Zhu. Dr. Fang serves as co-founder, Chairman, and CEO, having previously held executive roles at Lepu Biopharma and I-Mab; Mr. Zhu serves as co-founder, CFO, and Chief Business Officer, bringing over 20 years of experience in healthcare and capital markets, with prior executive positions at I-Mab,菲鹏生物, and Jefferies.

The funding will primarily support the iterative development of Excalipoint's three proprietary technology platforms — the TOPAbody platform, the T-cell immune shield platform, and the TCE prodrug platform — while accelerating the development of six drug candidates with "first-in-class" or "best-in-class" potential. These candidates aim to enhance the efficacy, safety, and durability of T-cell immunotherapies for solid tumors and other refractory malignancies.

Excalipoint's next-generation technology platforms address core biological barriers that have long constrained TCE therapy development, including mechanisms to convert "cold tumors" to "hot tumors," improve the tumor microenvironment, and target tumor antigens previously considered undruggable by conventional approaches. Leveraging these proprietary platforms, the company has built a diversified pipeline to mitigate single-asset risk, while actively pursuing strategic partnerships and out-licensing to unlock value.

The company's pipeline includes:

• EXP011 (CTM012): A trispecific TCE targeting DLL3, CD3, and 4-1BB, being developed for small cell lung cancer, neuroendocrine tumors, and other DLL3-positive malignancies. The program initiated Phase I/II clinical trials in October 2025 and received FDA IND clearance in January 2026.
• EXP012 (CTM013): A trispecific TCE targeting CDH17, CD3, and 4-1BB, for colorectal, gastric, and pancreatic cancers.
• EXP016: A trispecific antibody developed on the TOPAbody platform, targeting solid tumors with significant unmet medical need.
• EXP017: A multispecific antibody developed on the immune shield platform, designed to overcome treatment limitations caused by the tumor microenvironment.
• EP101: An optimized multispecific antibody based on TCE prodrug platform technology, enabling precise targeting of tumor-associated antigens.
• EXP015: A trispecific antibody developed on the TOPAbody platform, targeting IgG-related autoimmune diseases.

Dr. Lei Fang, Co-founder, Chairman, and CEO of Excalipoint Therapeutics, stated: "With our self-developed three technology platforms and core product pipeline, Excalipoint is building an innovation engine for next-generation TCE therapies. By combining cutting-edge science with capital, and leveraging China's efficiency in clinical development and access to large-scale patient populations, we aim to rapidly generate clinical data and advance differentiated therapies. Our progress validates the strength and maturity of China's biopharmaceutical innovation ecosystem — China has become an indispensable part of the global innovation value chain. The strong support from top-tier investors represents not only recognition of our scientific capabilities, but also endorsement of this new model for building globally competitive biopharmaceutical enterprises."

Mr. Jaylen Zhu, Co-founder, CFO, and Chief Business Officer of Excalipoint Therapeutics, stated: "The company's rapid launch and backing by premier capital underscore Excalipoint's strong growth potential. In just six months, we added two new technology platforms and expanded our pipeline to six differentiated drug candidates. Through the 'NewCo' model, we are accelerating the translation from research to clinic and driving long-term value creation through disciplined capital allocation, efficient execution, and cross-border strategic partnerships."

Excalipoint pioneered the "China NewCo" model, integrating serial entrepreneurs, high-quality pipeline assets, and top-tier capital to accelerate drug development. The company has rapidly grown into a multi-platform, clinical-stage biotech enterprise focused on next-generation TCE therapies.

About Excalipoint Therapeutics

Excalipoint Therapeutics is a clinical-stage biotechnology company dedicated to developing next-generation innovative T-cell engager (TCE) therapies to address unmet medical needs globally. Centered on multiple proprietary T-cell therapeutic technologies including the TOPAbody platform, T-cell immune shield platform, and TCE prodrug platform, the company focuses on developing differentiated and clinically promising novel T-cell therapies to overcome technical barriers facing existing treatments. Its pipeline encompasses six candidates across oncology and immunology, with the lead product EXP011 (CTM012) already in Phase I/II clinical trials for solid tumors.

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