Qiming Weekly | Top 10 News from Qiming Venture Partners Portfolio Companies Vol.07, 2026.3.4
Celebrating milestone moments with Qiming Venture Partners' portfolio companies
Editor's Note: In 2026, the Qiming Weekly has been upgraded and refreshed, with regular weekly updates featuring only ten major developments from Qiming Venture Partners' portfolio companies, covering funding progress and breakthroughs.
Every step entrepreneurs take in the tide of technology and innovation deserves to be recorded. Qiming Venture Partners will continue to accelerate and empower entrepreneurs, and join you in marking the milestone moments of our portfolio companies.
Funding News
01/
Galaxy Universal Raises RMB 2.5 Billion in New Funding Round
Recently, Qiming Venture Partners portfolio company Galaxy Universal announced the completion of a RMB 2.5 billion new funding round. Following this round, Galaxy Universal's cumulative funding firmly holds the top position in China's embodied AI sector, further consolidating its standing as the highest-valued unlisted company in the humanoid robotics field.
Galaxy Universal has built the world's largest billion-level embodied AI dataset and pioneered the data infrastructure "AstraSynth," establishing significant competitive advantages in data — the core production factor. The company首创 "virtual-real fusion training paradigm that prioritizes synthetic simulation data supplemented by real robot data." In high-precision physics simulation environments, the system can generate massive volumes of diverse scenarios, allowing robots to experience various extreme conditions in virtual worlds before being refined with minimal real robot data. While achieving robot training efficiency 1,000 times higher than Tesla, models trained on this dataset have reached a 99% success rate, far surpassing global peers in embodied AI.
Galaxy Universal has become the first to close the industrialization loop of "high-quality dataset + end-to-end large model + scaled application," achieving deep deployment in real-world scenarios across industry, retail, and healthcare, translating technical advantages into productivity gains. This round brought together numerous leading industrial and strategic investors, also opening up new diversified application spaces for Galaxy Universal in energy, manufacturing, real estate, and other sectors.
02/
Zhitai Bio Completes Over RMB 500 Million Series C Funding
Recently, Zhitai Bio announced the completion of a Series C funding round exceeding RMB 500 million, with Qiming Venture Partners participating. Zhitai Bio is a near-commercial-stage biotechnology company focused on developing innovative drugs for chronic metabolic diseases.
Zhitai Bio has pursued a differentiated layout in ultra-long-acting, oral peptide, and multi-target approaches for chronic metabolic diseases to meet diverse patient clinical needs, with converging innovative technologies set to lead future treatment trends. Its core product, the innovative GLP-1RA monthly formulation — Zoviglutide (ZT002) injection — is currently undergoing Phase III clinical trials for weight loss in China (HORIZON-1 study), with potential to become the world's first GLP-1 peptide administered once monthly. In prior Phase II trials, Zoviglutide demonstrated competitive efficacy and tolerability, with up to 13.8% body weight reduction at week 24 without plateau, and gastrointestinal adverse event-related discontinuation rates near zero. According to CIC, GLP-1RA monthly formulations are expected to shift weight loss treatment from weekly to monthly administration, greatly improving patient compliance, and are projected to capture approximately 26% of the global USD 209.5 billion GLP-1 drug market by 2035.
Qiming Venture Partners stated: "We highly recognize the company's forward-looking layout and technical accumulation in long-acting monthly and oral formulations, and maintain full confidence in the team's R&D capabilities and execution efficiency. The company's products possess clear differentiated competitive advantages and global expansion potential. We look forward to the company continuing to advance clinical development and internationalization of its core pipeline, growing into an innovative pharmaceutical enterprise with global influence."
Major Partnerships
01/
Hesai Technology JT64P Powers CHCNAV RS7 Laser Scanner
Recently, CHCNAV, a global leader in high-precision spatiotemporal information industry, launched its next-generation handheld laser scanner RS7 for overseas markets, featuring Qiming Venture Partners portfolio company Hesai Technology's (NASDAQ: HSAI, 02525.HK) miniaturized ultra-hemispherical high-precision 3D LiDAR JT64P. This powerful collaboration leverages Hesai's high-precision LiDAR to enable CHCNAV's new handheld laser scanner to deliver high-density, high-precision 3D data collection capabilities for global users, accelerating the deployment of spatial digitization technology across multiple scenarios.
The CHCNAV RS7 with JT64P achieves ultra-wide-area efficient scanning and high-precision data collection, purpose-built for engineering documentation, indoor mapping, renovation planning, and complex spatial analysis scenarios. Hesai Technology's JT64P is a high-precision LiDAR solution designed specifically for small-to-medium scene 3D reconstruction, featuring 360°x189° ultra-hemispherical field of view, over 1.15 million points per second high point frequency, and 0m minimum detection range. Additionally, the JT64P features upgraded laser transceiver technology paired with Hesai's self-developed precision offset correction algorithm, enabling efficient, high-precision point cloud output for the surveying and mapping market.
02/
Ark Biopharmaceutical Partners with Qilu Pharmaceutical
Recently, Qiming Venture Partners portfolio company Ark Biopharmaceutical announced a formal commercial partnership with Qilu Pharmaceutical. The two parties will collaborate to advance the commercialization of Aizhida® (Compound Chlorprothixene-Dexmethylphenidate Capsules) in China, providing better treatment options for Chinese patients with attention-deficit/hyperactivity disorder (ADHD).
Under the agreement, Qilu Pharmaceutical will obtain exclusive commercialization rights for Ark Biopharmaceutical's ADHD treatment drug Aizhida® in mainland China (excluding Hong Kong, Macau, and Taiwan). Ark Biopharmaceutical will receive milestone payments of up to RMB 470 million, plus royalties based on future net sales. The two parties will synergize their respective strengths, leveraging Qilu Pharmaceutical's mature commercialization platform in the psychiatric disorders field to jointly advance Aizhida®'s commercialization in the Chinese market, helping this potentially best-in-class innovative drug reach Chinese ADHD patients sooner.
Dr. Zheng Wu, Chairman and CEO of Ark Biopharmaceutical, stated: "Aizhida® holds significant clinical value for the broad ADHD patient population, and bringing this innovative drug to Chinese patients represents an important fulfillment of our corporate mission. We deeply believe in Aizhida®'s potential, yet fully realizing its value requires deep expertise and commercialization capabilities in the psychiatric disorders field. Qilu Pharmaceutical has years of experience and strong platform advantages in this area. We are pleased to partner with Qilu Pharmaceutical to jointly accelerate Aizhida®'s accessibility in China and benefit more patients."
R&D Progress
01/
Ticore Biotech's IgE Antibody LP-003 Unveils Phase II Topline Data for CSU
Recently, at the 2026 American Academy of Allergy, Asthma & Immunology Annual Meeting (AAAAI 2026), Qiming Venture Partners portfolio company Ticore Biotech unveiled topline data from its self-developed next-generation anti-IgE antibody LP-003 in chronic spontaneous urticaria (CSU), from a head-to-head clinical trial against omalizumab. The study showed that compared to omalizumab, LP-003 demonstrated comprehensive clinical advantages, achieving superior statistical results on all primary clinical endpoints, with overall good safety and tolerability, showing best-in-class potential.
This clinical trial (CTR20233300, NCT06228560) was a multi-center, randomized, double-blind, placebo- and active-controlled (omalizumab) Phase II study, designed to compare the efficacy of LP-003 versus omalizumab and placebo in treating chronic spontaneous urticaria patients with inadequate control on H1 antihistamines.
Results from this Phase II study indicate that LP-003 demonstrated promising therapeutic effects in chronic spontaneous urticaria patients whose symptoms remained uncontrolled after antihistamine treatment, with an overall favorable safety profile, providing important support for subsequent clinical research.
02/
Gan & Lee Pharmaceuticals' GLR2037 Tablet Receives NMPA Clinical Trial Approval
Qiming Venture Partners portfolio company Gan & Lee Pharmaceuticals (603087.SH) announced it recently received the Drug Clinical Trial Approval Notice from the National Medical Products Administration for its investigational drug GLR2037 tablet (application acceptance numbers: CXHL2600098, CXHL2600099; approval notice numbers: 2026LP00526, 2026LP00527). GLR2037 tablet is a Class 1 chemical new drug — an androgen receptor PROTAC (AR PROTAC) — independently developed by Gan & Lee Pharmaceuticals with proprietary intellectual property rights, indicated for the treatment of advanced prostate cancer.
GLR2037 tablet is Gan & Lee Pharmaceuticals' innovative drug based on PROTAC technology, meeting the application requirements of the NMPA's "Announcement on Optimizing Review and Approval of Innovative Drug Clinical Trials" (No. 86 of 2025), and was immediately channeled into the 30-day innovative drug clinical trial review and approval fast track upon acceptance. This is the first investigational drug from Gan & Lee Pharmaceuticals to enter this fast track, reflecting the company's innovative R&D capabilities on next-generation technology platforms, as well as its efficient collaboration with clinical trial institutions, principal investigators, and ethics review committees.
**PROTAC is an emerging therapeutic modality that harnesses cells' natural protein degradation mechanism — the ubiquitin-proteasome system (UPS) — to selectively target and degrade disease-relevant proteins, potentially modulating traditionally "undruggable" targets that are difficult to address with conventional small molecules. GLR2037 tablet belongs to Gan & Lee Pharmaceuticals' self-developed innovative drug products featuring new technology (PROTAC) and novel structure, with potential to provide new treatment options for advanced prostate cancer patients with AR drug resistance and extend patient survival. Gan & Lee Pharmaceuticals will conduct clinical trials in accordance with national drug registration regulations, striving to benefit patients as soon as possible.
03/
Epigenesis Therapeutics Announces Two Executive Appointments
Recently, Qiming Venture Partners portfolio company and clinical-stage innovative drug R&D enterprise Epigenesis Therapeutics announced the appointment of Dr. Chloe You as Chief Medical Officer (CMO) and Dr. Kelly Shi as Chief Financial Officer (CFO). Dr. Chloe You will be fully responsible for the company's medical strategy and clinical development, leading and advancing pipeline clinical progress. Dr. Kelly Shi will be fully responsible for corporate finance, capital operations, investor relations, and other functions, providing financial strategic support and capital market insights for the company's long-term development.
Dr. Baohong Zhang, CEO and Co-founder of Epigenesis Therapeutics, stated: "We warmly welcome Dr. Chloe You and Dr. Kelly Shi to Epigenesis Therapeutics. The company is currently at a critical juncture of global clinical development for its core pipeline and deepening strategic layout. Dr. Chloe You's profound experience in innovative drug clinical development, combined with Dr. Kelly Shi's keen insight into Wall Street capital markets, represents precisely the core capabilities we urgently need to accelerate our growth into an international innovative pharmaceutical enterprise. Their additions will significantly enhance the company's clinical development efficiency and capital operations capabilities, helping us achieve our goal of bringing breakthrough therapies to patients worldwide faster."
04/
Pushenglhua's Tuberculosis Detection Solution Receives Explicit WHO Recommendation
Recently, the World Health Organization (WHO) website released key updates to the 2026 tuberculosis diagnostic guidelines, bringing a landmark change: to promote broader availability of diagnostic technologies in frontline and decentralized settings, WHO formally recommended for the first time globally a new molecular diagnostic technology category: NPOC-NAATs (Near point-of-care nucleic acid amplification tests).
As a pioneer in this field, Qiming Venture Partners portfolio company Pushenglhua's tuberculosis detection solution MiniDock MTB Test has become the "first-in-class + world's first" product meeting the performance standards of this technology category, thanks to its outstanding clinical performance.
This WHO guideline update marks the formal entry of tuberculosis molecular diagnostics into a "decentralized" era of widespread accessibility. As the world's first NPOC-NAATs product meeting this technology category's performance standards, Pushenglhua's tuberculosis detection solution represents Chinese innovative strength in global public health practice, providing a deployable technical pathway to support the goal of "ending tuberculosis."**
Product Launches
01/
Unisound Unveils U1-OCR Large Model
Recently, Qiming Venture Partners portfolio company Unisound (09678.HK) officially launched the Unisound U1-OCR document intelligence foundation model. As the first industrial-grade document intelligence base model, it leverages five core advantages — "SOTA performance, verifiable trustworthiness, out-of-the-box usability, efficient deployment, and strong adaptability" — to break through traditional document processing boundaries and set a new industry benchmark.
Document Intelligence refers to using AI technology to automatically read and understand document images, and perform content reading, comprehension, classification, and key information extraction. Traditional vision-based approaches (OCR 1.0, represented by CRNN) can only recognize text; next-generation multimodal approaches (OCR 2.0, represented by VLM) possess end-to-end layout understanding and text recognition capabilities. Unisound U1-OCR formally inaugurates the OCR 3.0 era — building on layout understanding, it further penetrates deep document semantics, achieving automatic classification and business-level information extraction, completing a qualitative leap from "character perception" to "document cognition."
Unisound U1-OCR's inauguration of the OCR 3.0 era marks AI's leap from mere "literacy" to "understanding business logic." This is not merely a revolution in document intelligence, but a critical step for Unisound toward AGI. Unisound will use multimodal documents as knowledge entry points, endowing machines with autonomous reasoning and evidence traceability capabilities, pushing AI from perception toward cognition.
02/
Insilico Medicine Debuts AI Business Development Platform
Recently, Qiming Venture Partners portfolio company and generative AI-driven clinical-stage biotech company Insilico Medicine (03696.HK) announced the pilot launch of its Automated Partnering System, an AI-powered business development platform. The platform can directly process preliminary due diligence inquiries based on pre-loaded databases, upgrading previously cumbersome manual communication processes into an automated closed loop. As a further deepening of Insilico Medicine's "AI-empowered full company operations" strategy, by building intelligent infrastructure for the "external business development" function, it aims to achieve more precise business matching and more efficient deal execution.
Dr. Alex Zhavoronkov, Founder and CEO, Chief Business Officer of Insilico Medicine, stated: "I expect AI to assume most of the Chief Business Officer's functions, achieving full automation of high-frequency tasks so that humans can focus on irreplaceable deep interactions and relationship maintenance. Currently, the pharmaceutical industry's business development scene remains cautious about AI applications; even direct agent-to-agent interactions on non-confidential information still carry doubts and challenges. However, investing resources to develop scalable BD tools is imperative. At Insilico Medicine, 40+ self-developed pipelines place demands on business development throughput that far exceed traditional capabilities, and this Automated Partnering System represents a critical step toward this new industry standard."
P R E V I O U S I S S U E S
[Qiming Weekly · Top 10 Portfolio Company Updates] Vol. 06, 2026.2.25 5 AI IPOs in 7 Months, Qiming Venture Partners: Investing in AI Is the Greatest Certainty for Chinese Investment Over the Next Two Decades
Qiming Venture Partners was founded in 2006. Currently, Qiming Venture Partners manages 11 USD funds and 7 RMB funds, with total assets under management reaching USD 9.5 billion. Since inception, it has focused on investing in outstanding early- and growth-stage companies in Technology and Healthcare innovation.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative enterprises, 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 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), 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), Hope Medicine, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.