Qiming Star | Changsen Pharma Raises Hundreds of Millions of Yuan in Series B+ Funding to Accelerate Clinical Research and Global Expansion of Core Pipeline

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Recently, Shanghai Longwood Biopharmaceuticals Co., Ltd. (hereinafter referred to as "Longwood Biopharmaceuticals") announced the completion of its Series B+ financing round, raising hundreds of millions of RMB. Qiming Venture Partners led this round of investment. The funds raised will be mainly used to advance key clinical research for its core pipeline and the company's global layout.

Longwood Biopharmaceuticals was founded in 2012 by Dr. Zhe Wang, a world-renowned expert in chemical drug R&D. The company is committed to the independent R&D of innovative drugs that are First-in-class (FIC), Best-in-class (BIC, next-generation), and hold global intellectual property rights, aiming to meet unmet clinical needs. The company holds nearly 100 invention patents and has been recognized as a Shanghai "Specialized, Refined, Unique, and Innovative" enterprise, undertaking multiple major projects for the Ministry of Science and Technology and the Shanghai municipal government.

Dr. Zhe Wang, founder of Longwood Biopharmaceuticals, is a National Special Expert, a leading talent in the Beijing-Tianjin-Hebei region, and a Shanghai Entrepreneurship Leading Talent. Dr. Wang was mentored by Professor E.J. Corey, a Nobel laureate in Chemistry from Harvard University. He has devoted over 30 years to drug development research, possesses comprehensive experience covering the entire industrial chain from project initiation to drug commercialization, and has made outstanding achievements in the R&D of new drugs for anti-infection, anti-virus, and anti-cancer treatments.

Longwood Biopharmaceuticals, founded by Dr. Zhe Wang, focuses on the R&D and industrialization of innovative drugs in fields such as immune antiviral, autoimmune diseases, and tumor immunotherapy. Currently, multiple indications have entered Phase II and III clinical trials. The clinical data of its core products have reached internationally leading levels (BIC, FIC). In particular, LW231, the world's first bi-functional and dual-target new drug for the complete cure of hepatitis B, and LW402, a safer and more effective next-generation drug for autoimmune diseases, will greatly meet clinical needs in relevant fields and are expected to become major breakthrough achievements in these areas.

LW231 — The World's First-in-class Drug for the Complete Cure of Hepatitis B

As the world's first (FIC) bi-functional and dual-target new immune antiviral drug for hepatitis B, LW231 is expected to achieve no rebound after discontinuation, potentially breaking through the worldwide problem that no drug can completely cure hepatitis B. According to the Guidelines for the Prevention and Treatment of Chronic Hepatitis B (2022 Edition), the hallmark indicator of complete cure for hepatitis B is the clearance of HBV DNA (including covalently closed circular DNA, cccDNA) in hepatocytes, with no rebound after discontinuation. Preclinical research data shows that LW231 is currently the only drug worldwide that meets this criterion. This project won the highest award — the Excellence Award — at the 2024 National Disruptive Technology Innovation Competition, and in the same year received support from the Ministry of Science and Technology's National Key R&D Program for Disruptive Innovation.

LW402 — The Next-Generation Leading Drug for Autoimmune Diseases

LW402 is a next-generation leading innovative drug for autoimmune diseases independently developed by Longwood Biopharmaceuticals. It has shown excellent safety and efficacy in clinical trials across multiple indications, significantly outperforming the published data of similar drugs. Taking the Phase II clinical data for moderate-to-severe rheumatoid arthritis and atopic dermatitis as examples, LW402 not only acts rapidly with good efficacy and low toxicity, but also shows disease improvement/treatment indicators significantly higher than those of other JAK inhibitors. Meanwhile, there is no statistical difference in the total incidence of adverse events between the placebo group and each treatment group, reflecting its characteristics for long-term safe use. With such breakthrough advantages, LW402 has the potential to become the Best-in-class (BIC) product among similar products globally.

Dr. Zhe Wang stated: " We would like to thank all investors for their trust and support. The successful completion of this round of financing in the current market environment fully demonstrates investors' high recognition of the clinical competitiveness and market potential of our pipelines. This financing has injected sufficient funds into the company and also marks that Longwood Biopharmaceuticals is about to move from the clinical verification stage to the preparation stage for rapid commercialization. We will accelerate the completion of key clinical research on autoimmune drugs and clinical studies on hepatitis B drugs, striving to bring our products to market as soon as possible."

Dr. Kan Chen, Partner of Qiming Venture Partners and Co-Head of Healthcare Innovation, stated: " The breakthroughs achieved by Longwood Biopharmaceuticals in immune antiviral and autoimmune diseases are inspiring. Its technology has global leading advantages, high clinical value, and huge market potential. Qiming Venture Partners will continue to support the company's innovative development and international layout, and jointly promote the commercialization process of core pipelines."

This round of financing was led by Qiming Venture Partners, with participation from Xiamen C&D, Jinyi Fuxin, Chenyao Capital (under Ke Tou Shares), and Chuchang Capital, among other institutions.

Longwood Biopharmaceuticals Secures Hundreds of Millions in Series B+ Financing to Accelerate Core Pipeline Clinical Research and Global Layout

Recently, Shanghai Longwood Biopharmaceuticals Co., Ltd. (hereinafter referred to as "Longwood Biopharmaceuticals") announced the completion of its Series B+ financing round, raising hundreds of millions of RMB. Qiming Venture Partners led this round of investment, with participation from institutions including Xiamen C&D, Jinyi Fuxin, Chenyao Capital, and CCIC. The funds raised in this round will be mainly used to advance the core pipelines and the company's global layout.

Founded in 2012 by Dr. Zhe Wang, a world-renowned expert in chemical drug R&D, Longwood Biopharmaceuticals is committed to the independent R&D of innovative drugs that are First-in-class (FIC), Best-in-class (BIC), and hold global intellectual property rights, aiming to meet unmet clinical needs. The company holds nearly 100 invention patents (including more than 30 PCT international patents).

Dr. Zhe Wang, founder of Longwood Biopharmaceuticals, is a National Special Expert, mentored by Professor E.J. Corey, a Nobel laureate in Chemistry from Harvard University. Dr. Wang has over 30 years of experience in drug development. He possesses comprehensive experience covering the entire industrial chain from project initiation to drug commercialization, and has made outstanding achievements in the R&D of new drugs for anti-infection, anti-virus, and anti-cancer treatments.

Longwood Biopharmaceuticals focuses on the R&D and industrialization of innovative drugs in fields such as immune antiviral, autoimmune diseases, and tumor immunotherapy. Currently, multiple indications of its innovative drugs have entered Phase II and III clinical trials. The clinical data of its core products have reached internationally leading levels (BIC/FIC). In particular, LW231, the World's First bi-functional and dual-target new drug for the complete cure of hepatitis B, and LW402, a next generation JAK1-selective inhibitor with improved safety and efficacy for autoimmune diseases, will greatly meet clinical needs in relevant fields and are expected to become major breakthrough achievements in related fields.

LW231 – The World's First-in-class Drug for the Complete Cure of Hepatitis B

As the World's First bi-functional and dual-target new immune antiviral drug for hepatitis B, LW231 is expected to achieve no rebound after discontinuation. According to the "Guidelines for the Prevention and Treatment of Chronic Hepatitis B (2022 Edition)", the hallmark indicator of complete cure for hepatitis B is the clearance of HBV DNA (including covalently closed circular DNA, cccDNA) in hepatocytes, with no rebound after discontinuation. Pre-clinical research data shows that LW231 is currently the only drug worldwide that meets this criterion.

LW402 – The Next-Generation Leading Drug for Autoimmune Diseases

LW402 is a next-generation leading innovative drug for autoimmune diseases independently developed by Longwood Biopharmaceuticals. It has shown excellent safety and efficacy in clinical trials across multiple indications, significantly better than the published data of similar drugs. Taking the Phase II clinical data for moderate-to-severe rheumatoid arthritis and atopic dermatitis as examples, LW402 exhibits rapid onset, high efficacy, and low toxicity. The disease improvement/treatment indicators of patients are significantly higher than those of other JAK inhibitors. Meanwhile, there is no statistical difference in the total incidence of adverse events between the placebo group and each treatment group, reflecting its long-term use features. With such breakthrough advantages, LW402 has the potential to become the Best-in-class (BIC) product among similar products globally.

Dr. Zhe Wang stated, "We would like to thank all investors for their trust and support. The successful completion of this round of financing in the current market environment fully demonstrates investors' high recognition of the clinical competitiveness and market potential of our pipelines. This financing has injected sufficient funds into the company and also marks that Longwood Biopharmaceuticals is about to move from the clinical verification stage to the preparation stage for rapid commercialization. We will accelerate the completion of key clinical research on autoimmune drugs and clinical studies on hepatitis B drugs, striving to launch our products as soon as possible."

Dr. Kan Chen, Partner of Qiming Venture Partners and Co-Head of the Healthcare Sector, said, "The breakthroughs achieved by Longwood Biopharmaceuticals in immune antiviral and autoimmune diseases are inspiring. Its innovative drugs have global leading advantages, high clinical value, and huge market potential. Qiming Venture Partners will continue to support the company's innovative development and international layout, and jointly promote the commercialization process of core pipelines."

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