Qiming Venture Partners co-leads $30M Series B in Shenzhen Oculgen, first-in-class bispecific OCUL101 enters Phase II in China and US
Focused on R&D of innovative ophthalmic drugs
Shenzhen-based Oculgen Biopharmaceuticals, a company focused on developing innovative ophthalmic drugs, recently completed a $30 million Series B financing round, with Qiming Venture Partners co-leading the investment. The proceeds will fully support the Phase II clinical trials in both China and the United States for OCUL101, a global first-in-class bispecific antibody ophthalmic drug — the company's flagship product — accelerating its development.
01/
Targeting Unmet Clinical Needs: One Drug for Three Major Blinding Retinal Diseases
Retinal diseases have become the leading cause of irreversible vision impairment worldwide. Three conditions in particular — neovascular age-related macular degeneration (nAMD), diabetic macular edema (DME), and geographic atrophy (GA) — afflict tens of millions of patients globally, with significant unmet clinical demand.
- Neovascular age-related macular degeneration (nAMD) primarily affects people over 50, with abnormal neovascularization causing leakage and bleeding that damages vision in advanced stages. Current mainstream anti-VEGF (vascular endothelial growth factor) therapies require frequent injections and prove ineffective in some patients.
- Diabetic macular edema (DME) is the leading cause of blindness among diabetic patients, affecting approximately one in three diabetics. It is characterized by refractoriness and recurrent episodes, with many patients experiencing residual edema or relapse after conventional treatment.
- Geographic atrophy (GA), a late-stage manifestation of AMD, causes progressive and irreversible loss of visual function. No strongly effective treatment currently exists, leaving millions of patients in China without therapeutic options.
Oculgen's independently developed OCUL101 is a global first-in-class bispecific antibody innovative drug targeting all three indications. Its unique anti-VEGF–complement C5 dual-target design simultaneously blocks three pathological pathways: neovascularization, vascular leakage, and inflammatory response. By addressing the limitations of single-target drugs at their root, OCUL101 is expected to become China's first biologic for GA and the world's first ophthalmic innovative drug covering all three indications, offering patients a more comprehensive treatment option.
02/
Promising Phase I Results: Validating Safety and Extended Duration
In the completed Phase Ib single ascending dose (SAD) study, OCUL101 has delivered encouraging results. On safety: throughout the 12-week follow-up period, no patients experienced dose-limiting toxicities, treatment-related serious adverse events, or vision-threatening ocular complications, demonstrating excellent tolerability. On efficacy: patients showed continuous improvement in best-corrected visual acuity (BCVA, a key indicator of visual function) and central retinal thickness (CRT, a key indicator of edema severity). On duration: a single injection maintained vision and retinal improvements for up to 12 weeks, potentially extending treatment intervals significantly and solving the pain point of conventional therapies requiring injections every 4–8 weeks, reshaping the retinal disease treatment landscape. OCUL101 is now nearing completion of Phase I clinical trials, with the clinical team actively advancing preparatory work for Phase II initiation.
03/
Financing Powers Globalization: Phase II Trials in China and US Set to Launch
The closing of this $30 million financing round will provide robust support as OCUL101 advances into later-stage clinical development. Oculgen will initiate China's first Phase II clinical trial of a biologic for GA in January 2026, while simultaneously advancing Phase II studies in both China and the United States to accelerate the global development of this innovative drug.
"Oculgen is committed to our mission of 'bringing innovative ophthalmic drugs to patients worldwide,' focused on filling gaps in global clinical ophthalmology treatment," said Dr. Chen Jiongguang, founder of Oculgen. Following this financing, the company will further strengthen team building, integrate global resources, steadily advance R&D programs, and expand domestic and international partnerships as it moves toward a leading position in global ophthalmic biopharmaceuticals. Beyond OCUL101, Oculgen has also established a pipeline of multiple preclinical multi-antibody programs, with IND applications planned for submission in both China and the US starting in 2026, building an innovative treatment system covering more retinal diseases.
From completing preclinical development and dual filings in China and the US within three years, to demonstrating promising safety and extended duration potential in Phase I trials, to this Series B financing supporting global expansion, Oculgen is breaking through the treatment困境 for retinal diseases through independent innovation. As OCUL101's Phase II trials in China and the US advance, it holds promise to bring more effective and convenient treatment options to tens of millions of retinal disease patients worldwide, making vision restoration within reach.
This financing round was co-led by a prominent industry-focused investment institution and Qiming Venture Partners, with Wanwu Capital participating. Existing shareholders LongRiver Investments and BioTrack Capital also continued their support.
Previous Coverage
Qiming Weekly | Qiming Venture Partners Portfolio Updates Vol. 43, 2025
Founded in 2006, Qiming Venture Partners currently manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since inception, the firm has focused on investing in early- and growth-stage outstanding companies in Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative enterprises. More than 210 of these have gone public on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing Limited, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through M&A and other means. Over 80 portfolio companies have become recognized unicorns or super-unicorns.
Many Qiming Venture Partners portfolio companies have grown into the most influential companies in their respective fields, including Xiaomi (01810.HK), Meituan (03690.HK), Bilibili (NASDAQ: BILI, 09626.HK), Zhihu (NYSE: ZH, 02390.HK), Roborock (688169.SH), Hesai Technology (NASDAQ: HSAI, 02525.HK), UBTECH (09880.HK), WeRide (NASDAQ: WRD, 00800.HK), HyperStrong (688411.SH), Insta360 (688775.SH), Unisound (09678.HK), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ, 03347.HK), Zai Lab (NASDAQ: ZLAB, 09688.HK), CanSino Biologics (688185.SH, 06185.HK), Schrödinger (NASDAQ: SDGR), MicroPort EP MedTech (688617.SH), Sanyou Medical (688085.SH), Amoy Diagnostics (300685.SZ), SinoCellTech (688520.SH), Hope Medicine, Yuanxin Technology, Insilico Medicine, MediLink Therapeutics, LaNova Medicines, Zhipu, StepFun, Biren Technology, and others.