Qiming Weekly: Top 10 Portfolio Company Updates, Vol. 06, Feb. 25, 2026
Staying with you through milestone moments for Qiming Venture Partners' portfolio companies
Editor's Note: In 2026, the Qiming Weekly gets a fresh upgrade with regular weekly updates, featuring only ten handpicked major developments from Qiming Venture Partners' portfolio companies — covering funding milestones and breakthrough progress.
Every step entrepreneurs take in the tide of technology and innovation deserves to be recorded. Qiming Venture Partners will continue accelerating and empowering founders, and we invite you to follow along as we spotlight these milestone moments.
Funding News
01/
Gluetacs Therapeutics Secures $30 Million Strategic Investment from Sanofi
Recently, Qiming Venture Partners portfolio company Gluetacs Therapeutics, which focuses on innovative molecular glue degraders, announced a $30 million strategic equity investment from Sanofi. This round of funding will support the advancement of Gluetacs' two core molecular glue programs, GLB-005 and GLB-007.
Under the agreement, Sanofi has subscribed to newly issued preferred shares of Gluetacs. Additionally, Gluetacs has granted Sanofi a Right of First Negotiation (ROFN) for potential exclusive licensing arrangements related to the research, development, manufacturing, and commercialization of GLB-005 and GLB-007. Both programs are currently in preclinical stages, with Phase I clinical studies expected to begin as early as late 2026.
GLB-005 is designed to selectively degrade the WIZ protein, while GLB-007 simultaneously targets both WIZ and ZBTB7A for degradation. By degrading these fetal hemoglobin repressors, GLB-005 and GLB-007 aim to reactivate fetal hemoglobin expression, potentially offering a novel oral disease-modifying therapy for sickle cell disease patients. Founded in 2021, Gluetacs Therapeutics is a biotechnology company dedicated to discovering and developing novel molecular glue degraders to address unmet medical needs in genetic diseases, oncology, and autoimmune disorders.
02/
Inspire Robots Completes 300 Million Yuan in Series C1 and C2 Funding
Recently, Inspire Robots completed two funding rounds — Series C1 and C2 — totaling 300 million yuan. Qiming Venture Partners participated in the Series C2 round as a follow-on investor. Both rounds were led primarily by core strategic industry investors and top-tier market-based investment institutions, reflecting strong market recognition of the company's technical capabilities and commercial prospects in the dexterous hand sector. The proceeds will accelerate R&D in dexterous manipulation technology and core component innovation; further solidify industry leadership and enhance product delivery capacity; and actively expand global market presence to drive commercialization.
Since its founding in 2016, Inspire Robots has remained focused on dexterous hand technology R&D and innovation. As a pioneer in China's dexterous hand industry, Inspire Robots has received multiple grants under China's National Key R&D Program and was selected for the Ministry of Industry and Information Technology's "Challenge-Based" initiative. With exceptional technical strength, Inspire Robots was the first to achieve mass production and commercial deployment of domestically developed dexterous hands. Over ten years of iteration, the company has built comprehensive full-stack software and hardware capabilities for dexterous hands, achieving in-house R&D and production of core upstream components including miniaturized motors, planetary roller screws, reducers, and sensors — a rare capability in the market. The company has also developed complete testing and mass production processes, creating targeted standards for salt spray, high-low temperature, vibration, and waterproof testing to meet demanding industrial and data collection applications across complex operating conditions. Its product reliability leads the industry comprehensively, making it the optimal solution for embodied AI deployment.
Alex Zhou, Managing Partner at Qiming Venture Partners, commented: "As the embodied intelligent robotics industry flourishes, dexterous hands will replace grippers as an indispensable key component for robots, elevating their intelligence and dexterity. Inspire Robots, through a decade of sustained investment in precision motion control, has achieved scaled product deployment with cumulative shipments ranking first globally. We believe the company will become core infrastructure for the robotics industry through continuous innovation and reliable delivery, accelerating industry development and empowering broader industrial scenarios."
Major Partnerships
01/ Beijing Humanoid Robot Innovation Center and UBTECH Jointly Launch Tiangong Xingzhe DEX
Recently, the Beijing Humanoid Robot Innovation Center and Qiming Venture Partners portfolio company UBTECH (09880.HK) jointly launched the full-size, all-capability humanoid robot for research — "Tiangong Xingzhe DEX."
The product delivers significant improvements in body stability, motion control, embodied brain-cerebellum coordination, and fully autonomous operation. With its "agile, user-friendly, open, and versatile" characteristics, it provides differentiated empowerment solutions for four core audiences in research and education, precisely适配ing to diverse research and educational scenarios. Leveraging the "Huisi Kaiwu" general embodied intelligence platform, it offers global developers a complete secondary development toolchain, enabling efficient customized development and research project implementation.
Centered on the Tiangong Xingzhe DEX platform, UBTECH has built a full-lifecycle service ecosystem of "product + solution + service," providing comprehensive support for research and education applications through four core pillars. This system encompasses standardized curricula and laboratory construction solutions to lower barriers to classroom implementation; systematic competitions and innovation activities to stimulate student creativity through competitive learning; authoritative skills certification to bridge talent development and industry demand, enhancing graduate employability; and professional instructor training to ensure teaching team expertise and promote standardized research and education practices.
02/ Insilico Medicine and China Medical System Holdings Reach Multiple Collaborations
Recently, Qiming Venture Partners portfolio company Insilico Medicine (03696.HK), a clinical-stage biotech company powered by generative AI, and China Medical System Holdings announced a series of AI-enabled innovative drug R&D collaborations across multiple projects in central nervous system and autoimmune diseases.
Under the collaboration agreements, the two parties will combine Insilico Medicine's validated AI platform and AI-enabled drug discovery capabilities with China Medical System's experienced R&D team and deep disease domain knowledge to jointly advance no fewer than two R&D programs. Insilico Medicine is also eligible to receive up to tens of millions of Hong Kong dollars in R&D funding support per program.
This collaboration will fully leverage the synergistic advantages of both parties across the full drug development cycle — from discovery to commercialization — accelerating the R&D and translation of high-potential innovative drugs through resource integration and technology complementarity. Insilico Medicine will drive efficient candidate screening and validation through its Pharma.AI platform and capabilities in target discovery, small molecule design, and optimization. China Medical System will contribute its extensive experience and mature networks in clinical development strategy, regulatory pathway planning, clinical trial execution, and commercialization to advance programs from preclinical stages through clinical development to market launch.
03/
WeRide and Uber Launch Robotaxi Service in Downtown Abu Dhabi for the First Time
Recently, Qiming Venture Partners portfolio company WeRide (NASDAQ: WRD, 00800.HK), a global leader in autonomous driving technology, and international mobility giant Uber announced the official launch of the first commercial Robotaxi service in downtown Abu Dhabi — marking the first deployment of autonomous vehicles in the city center. With this expansion, WeRide and Uber's Robotaxi coverage now spans approximately 70% of Abu Dhabi's core areas. Since launching commercial Robotaxi operations in December 2024, the partnership's fleet size has quadrupled.
Supported by the Abu Dhabi Integrated Transport Centre (ITC), the WeRide and Uber Robotaxi service now extends to Khalifa City, Masdar City, Rabdan, and along Corniche Road to Sheikh Zayed Grand Mosque, connecting core landmarks including Sheikh Zayed Grand Mosque with popular hotels along the Corniche such as Grand Hyatt Abu Dhabi Hotel & Residences, InterContinental Abu Dhabi by IHG, Edition Hotel Abu Dhabi, Emirates Palace Mandarin Oriental, Rixos Marina Abu Dhabi, and Radisson Blu Hotel & Resort, Abu Dhabi Corniche.
Effective immediately, passengers traveling in these areas can be matched with WeRide's Robotaxi GXR model through Uber Comfort or Uber X options, or directly hail one through the dedicated "Autonomous" category in the Uber app. The commercial Robotaxi operation for the public in downtown Abu Dhabi has officially launched, with one safety operator currently in each vehicle during this phase, with plans to progress toward fully unmanned operation in stages. UAE-based transportation company Tawasul Transport serves as the fleet operator for WeRide's Robotaxi on the Uber platform, providing fleet management services.
R&D Progress
01/
Abbisko Therapeutics' FGFR4 Inhibitor Irpagratinib Receives FDA Fast Track Designation
Recently, Qiming Venture Partners portfolio company Abbisko Therapeutics (02256.HK) announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track Designation (FTD) to its self-developed highly selective small molecule FGFR4 inhibitor irpagratinib (ABSK-011) for hepatocellular carcinoma (HCC) patients with FGF19 overexpression who have previously received immune checkpoint inhibitor (ICI) and multi-target tyrosine kinase inhibitor (mTKI) treatment.
Irpagratinib is a highly selective FGFR4 inhibitor developed by Abbisko Therapeutics for the treatment of advanced HCC patients with FGF19 overexpression. This FTD grant from the FDA was primarily based on positive results from the Phase I clinical study presented at the 2024 European Society for Medical Oncology (ESMO) Annual Congress. Data showed that in advanced HCC patients with FGF19 overexpression who had failed prior ICI and mTKI treatment, irpagratinib monotherapy demonstrated significant efficacy with favorable safety and tolerability, achieving an objective response rate (ORR) of 46.7% and a median progression-free survival (mPFS) of 5.5 months.
In May 2025, irpagratinib received Breakthrough Therapy Designation (BTD) from the Center for Drug Evaluation (CDE) of China's National Medical Products Administration, and a pivotal registrational clinical study was initiated covering over 50 research centers nationwide. Academician Xiaoping Chen of the Chinese Academy of Sciences previously gave high praise to this program, stating that irpagratinib has the potential to become the world's first truly precision-targeted liver cancer drug, bringing long-term survival benefits to patients.
02/
Gan & Lee Pharmaceuticals' Rapilin™30 Becomes Malaysia's First Biosimilar Insulin Aspart 30
During the inaugural Insulin Analogue Forum held recently in Kuala Lumpur, Malaysia, Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH) officially launched its self-developed insulin aspart 30 injection (brand name: Rapilin™30), becoming the first biosimilar insulin aspart 30 available locally. The forum was hosted by Gan & Lee's Malaysian partner and received strong support from the Malaysian Medical Association (MMA), establishing a professional exchange platform for regional diabetes care. This product launch represents an important milestone in Gan & Lee's deep collaboration with local partners, marking the successful entry of the company's third-generation insulin products into the Malaysian market, where it will contribute high-quality treatment solutions to advance local diabetes management.
The official launch of Rapilin™30 will strongly drive the clinical transition in Malaysia from second-generation human insulin to third-generation insulin analogues. With its core advantages of stable efficacy and proven safety, Rapilin™30 will effectively meet local diabetes patients' demand for high-quality therapeutic drugs and help enhance the Malaysian public health system's comprehensive capabilities in diabetes treatment. Coinciding with an important juncture as China-Malaysia relations enter a new "Golden 50 Years," the successful introduction of Rapilin™30 represents not only a critical breakthrough in Gan & Lee's internationalization strategy but also a landmark achievement in practical China-Malaysia health cooperation, injecting new vitality and substance into bilateral economic, trade, and livelihood cooperation.
Technology Strength
01/
Galaxy Universal Makes Spring Festival Gala Debut in Year of the Horse
During the Year of the Horse Spring Festival Gala, Qiming Venture Partners portfolio company Galaxy Universal's "Xiao Gai" stunned audiences with a series of maneuvers: from delicately spinning walnuts and picking up glass shards to retrieving items from shelves, plus everyday tasks like folding clothes and skewering sausages — all executed with dexterous, naturally human-like movements. Unlike traditional robot performances that rely on pre-programming, Galaxy Universal's demonstration was achieved through end-to-end autonomous perception, decision-making, and execution.
Galaxy Universal's core capabilities stem from a fundamentally different approach than conventional robotics. The company independently innovated and applied a new paradigm integrating ultra-large-scale simulated-real data end-to-end training with embodied brain-cerebellum coordination: based on its self-constructed billion-level embodied intelligence dataset, it created "AstraBrain," the world's first end-to-end full-body, full-hand model integrating "brain-cerebellum-neural control" into a single architecture.
From the "walnut-spinning" feat on the Gala stage to precision assembly in factory workshops; from 24/7 service in smart pharmacies to coffee-making on city streets — Galaxy Universal has proven with real capabilities that it isn't performing scripted actions, but genuinely entering people's daily lives to provide practical services through generalizable skills.
02/
Hesai Technology LiDAR Equips Unitree Robots for Spring Festival Gala Stage
This year, both Unitree humanoid robot models were equipped with Qiming Venture Partners portfolio company Hesai Technology's (NASDAQ: HSAI, 02525.HK) JT128 LiDAR for their Gala appearance, delivering a strong tech presence.
As the current best-selling miniaturized 360° LiDAR for embodied intelligent robots, Hesai Technology's JT series has surpassed 200,000 units in cumulative deliveries, successfully deployed across multiple embodied intelligent robot products, helping robots transition from laboratories into households.
As a leader in 3D perception technology, Hesai Technology not only accelerates the rapid development of robotics, autonomous driving, and smart industry, but also serves as a key builder of physical AI infrastructure, bringing efficiency and comfort into every corner of life.
03/
Shengshu Technology's Vidu Launches "Motion Sync"
Following the market-wide acclaim for Vidu Q3, the world's first model supporting 16-second direct audio-video output, Qiming Venture Partners portfolio company Shengshu Technology's Vidu has released another core feature for the enterprise market — powerful Motion Sync. Built on more precise motion control technology, this feature achieves full-dimensional motion transfer from original video characters to generated characters, ensuring that even complex dance movements like high-speed spins and continuous jumps, along with high-difficulty, high-precision special effects, maintain consistent frame stability and detail expression.
The breakthrough of this technology lies in lowering the barrier for professional-grade video motion AI replication to unprecedented lows. Users need only provide a single target reference image and a source motion video to obtain a highly realistic, smoothly coherent professional-grade replication video. What previously required professional motion capture equipment and post-production teams over weeks can now be compressed to automated generation in seconds — improving efficiency by nearly 100-fold while significantly lowering the technical and cost barriers to creative realization.
Past Issues
Qiming Weekly · Portfolio News Top 10, Vol. 04, 2026.2.3
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 innovation.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have listed on the New York Stock Exchange, NASDAQ, Hong Kong Exchanges and Clearing, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through mergers and acquisitions. Over 80 portfolio companies have become recognized unicorns or super-unicorns in their industries.
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), Biren Technology (06082.HK), Zhipu AI (02513.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), Insilico Medicine (03696.HK), AusperBio, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.