Qiming Weekly | Top 10 Updates from Qiming Venture Partners Portfolio Companies Vol.11, 2026.3.31
Celebrating milestone moments with Qiming Venture Partners' portfolio companies
Editor's Note: In 2026, the Qiming Weekly gets a refresh — now published on a regular weekly schedule, featuring only ten handpicked updates from Qiming Venture Partners' portfolio companies, covering funding milestones and breakthrough developments.
Every step entrepreneurs take in the tide of technology and innovation deserves to be recorded. Qiming Venture Partners will continue to accelerate and empower founders, and we invite you to follow along as we track these milestone moments together.
Funding News
01/ CIX Technology Closes Nearly RMB 1 Billion Series B Round
Recently, CIX Technology, a Qiming Venture Partners portfolio company and general-purpose heterogeneous intelligent CPU chip developer, announced the completion of a nearly RMB 1 billion Series B financing round. The amount marks the largest single-round raise in the company's history, reflecting continued market recognition of CIX Technology's leading position in the intelligent agent CPU track and strong confidence in its future growth prospects. Proceeds will focus on scaling commercialization of existing products and R&D and mass production of its next-generation high-performance intelligent agent CPU, accelerating the buildout of the intelligent agent terminal ecosystem.
CIX Technology recently unveiled its first intelligent agent CPU — the CIX ClawCore series, purpose-built for the intelligent agent terminal ecosystem. The lineup comprises three products: ClawCore-P (Performance), ClawCore-A (AI), and ClawCore-E (Efficiency), delivering complete coverage from low-power to high-performance tiers. With end-to-end security protection, open ecosystem compatibility, continuous evolution capabilities, and precise power efficiency management, the series provides a secure, reliable, and stable compute platform for local execution of large models, agents, and skills.
Wenjian Sun, Founder and CEO of CIX Technology, said: "Scaling edge AI deployment requires a high-performance, secure, and controllable compute foundation — this is the core underpinning of edge AI capability building and the very bedrock of the intelligent agent terminal ecosystem. The CIX ClawCore series is more than just a high-efficiency SoC; it is an open gateway to intelligent agent technology innovation and applications. Built on the ClawCore series, CIX Technology will work in deep collaboration with industry partners to reconstruct AI application development with agents at the center, making intelligent agents the core of everything we build, and welcoming the era of GenAI together."
02/ Pinnacle Medicines Raises $89 Million in Series B
Recently, Pinnacle Medicines , a Qiming Venture Partners portfolio company, announced the completion of an $89 million Series B round, which was oversubscribed. Qiming Venture Partners co-invested in the round. Notably, Pinnacle Medicines was co-incubated by Qiming Venture Partners, and has now raised a total of $134 million since its founding.
Pinnacle Medicines is a biotechnology company dedicated to developing oral peptide therapeutics using its proprietary AI-integrated physics simulation technology platform. Proceeds from this round will support the acceleration of its pipeline into clinical stages in autoimmune and cardiometabolic diseases, while further expanding the company's proprietary peptide R&D platform and enhancing its development capabilities. Pinnacle Medicines is developing a new generation of oral peptide drugs designed to achieve antibody-comparable efficacy and safety with the convenience of oral administration.
Chong Wang, CEO of Pinnacle Medicines, said: "This financing round marks an important milestone for the company and reflects investors' strong recognition of the transformative potential of oral peptide therapeutics. Pinnacle Medicines is building a discovery platform that fully unlocks the therapeutic potential of peptides through oral delivery. With the support of top-tier investors, we are focused on translating this vision into clinical proof-of-concept results and bringing transformative treatment options to patients."
Major Partnerships
01/ Insilico Medicine Enters Out-Licensing and Global R&D Collaboration with Eli Lilly
Recently, Insilico Medicine (03696.HK), a Qiming Venture Partners portfolio company and generative AI-driven biopharmaceutical technology company, announced a drug discovery collaboration with Eli Lilly and Company . The partnership will leverage Insilico Medicine's AI engine to accelerate the discovery and development of novel therapies across multiple therapeutic areas.
Under the agreement, Eli Lilly will receive a worldwide exclusive license to develop, manufacture, and commercialize a novel oral therapeutic candidate currently in preclinical development for specific indications, with potential best-in-class properties. Additionally, Insilico Medicine and Eli Lilly will collaborate on multiple discovery programs around targets selected by Eli Lilly, combining Insilico Medicine's advanced Pharma.AI platform capabilities with Eli Lilly's deep expertise in development execution and disease areas to jointly accelerate the discovery of innovative drug candidates.
Alex Zhavoronkov, Founder and CEO of Insilico Medicine, said: "Since our founding, Insilico Medicine has been committed to building a deep learning system that covers the entire drug discovery process. By deploying cutting-edge AI technologies that scale from identifying biomarkers to building complex biological organism models, we are able to identify multi-purpose targets that drive multiple diseases simultaneously. The collaboration with Eli Lilly will help us deliver transformative therapies for major unmet medical needs. This partnership also fully demonstrates the tremendous potential of AI in addressing complex challenges in human health."
02/ Zhipu AI's Multimodal Large Model to Power Mercedes-Benz Vehicles
Recently, Mercedes-Benz China announced its latest industry-academia-research collaboration achievement in China: a multimodal large model technology co-developed with Tsinghua University and Zhipu AI (02513.HK), a Qiming Venture Partners portfolio company, will be deployed in the new-generation S-Class sedan.
The project was deeply co-created by the Mercedes-Benz China R&D team together with Tsinghua University and Zhipu AI, building a Mercedes-Benz-exclusive edge-side multimodal large model. With this, Mercedes-Benz becomes the first automotive brand to apply multimodal large model technology in a rear-seat entertainment system.
Powered by multimodal large model technology, the premium rear-seat entertainment system in the new-generation Mercedes-Benz S-Class will deeply integrate natural language processing with multimodal understanding and generation capabilities spanning vision, audio, and more, combined with in-vehicle camera and other perception hardware, to create a more intelligent, humanized, and emotionally resonant immersive interactive experience for passengers.
03/ Hesai Technology's LiDAR Wins FAW Bestune New-Model Designation
Recently, Hesai Technology (NASDAQ: HSAI, 02525.HK), a Qiming Venture Partners portfolio company and global LiDAR leader, announced that its ATX LiDAR has officially been designated for FAW Bestune's new-generation vehicle model. This collaboration marks another recognition of Hesai Technology's technical strength and market competitiveness in the LiDAR space by a major domestic automaker.
Hesai Technology's compact high-performance long-range LiDAR ATX combines a small form factor with extreme performance. Since commencing large-scale mass production in Q1 2025, it has rapidly become a standard safety component for best-selling mass-production models, with cumulative deliveries exceeding 1 million units. Designed to meet L2-level advanced driver-assistance system safety requirements, ATX leverages its exceptional long-range detection capabilities and exclusive photon isolation safety technology to identify potential hazards early, significantly enhancing vehicle active safety.
04/ DeepWay and CATL Partner to Build Sichuan-Tibet Trunk Logistics Network
Recently, DeepWay , a Qiming Venture Partners portfolio company, held a 100-unit signing and 50-unit intelligent new energy heavy-duty truck delivery ceremony with Tengyun Logistics in Ya'an, Sichuan, and together with CATL officially launched the Chengdu-Ya'an-Ganzi heavy-duty truck corridor. The signing and delivery mark a key breakthrough for DeepWay in the electrification and intelligentization of trunk logistics along the Sichuan-Tibet route, injecting strong momentum into green logistics development for high-altitude, complex road conditions through its leading intelligent new energy heavy-duty truck products and integrated solutions.
Ya'an sits at the core hub of the Sichuan-Tibet route, serving as a critical intersection for industrial logistics from the Chengdu-Ya'an Industrial Park, trunk transport along National Highway 318, and regional mineral resource outbound shipments. This road section reaches a maximum altitude of 4,298 meters, where continuous climbing, low temperatures, and oxygen-thin high-altitude environments pose severe challenges for heavy-duty truck operations. DeepWay's Xingtu model, with the significant energy consumption advantages of its intelligent electric drive axle, fast and stable charging enabled by its 800V high-voltage platform, and the safe, comfortable driving experience delivered by its Tianji·Suixing assisted driving system, provides efficient and reliable green transport capacity for high-altitude, complex road conditions.
The completion of this 100-unit signing and 50-unit delivery fully demonstrates DeepWay's product strength and market recognition in the intelligent new energy heavy-duty truck sector. Looking ahead, DeepWay will accelerate the promotion of heavy-duty truck electrification and intelligentization in high-altitude, extreme-cold regions along the Sichuan-Tibet route, contributing smarter, more economical, and safer green logistics solutions.
Product Launches
Fushoukang Debuts "Patrol 360" in Shanghai
Recently, Fushoukang , a Qiming Venture Partners portfolio company, officially launched "Patrol 360," an integrated home-based intelligent care product. Building on the company's deep technological accumulation and full-chain service capabilities in "AI + community-based home care in China," Patrol 360 breaks through the limitations of traditional home care services with three core innovations: "1-on-1 care manager rapid response, 1+N multidisciplinary team shared patrol, and AI-powered smart devices with 24/7 monitoring." Using digital intelligence technology to redefine the paradigm of home care, it provides seniors with all-weather, full-team, closed-loop intelligent care services, further solidifying the company's technology and service leadership in AI-powered home care.
As a flagship product in Fushoukang's home-based intelligent care portfolio, Patrol 360 embodies the product philosophy of "precision in technology, warmth in service." By deeply integrating artificial intelligence, Internet of Things, and big data with senior home care scenarios, it directly addresses pain points in traditional eldercare services such as "scheduled visits only, delayed response, limited human resources, and care gaps." It constructs a closed-loop care system of "intelligent monitoring + risk assessment + multi-role response," letting technology-driven protection accompany seniors through every moment at home.
R&D Progress
01/ Gan & Lee Pharmaceuticals' GZR18 Injection Wins Clinical Trial Approval for Additional Indication
Recently, Gan & Lee Pharmaceuticals (603087.SH), a Qiming Venture Partners portfolio company, and its wholly-owned subsidiary Gan & Lee Pharmaceuticals Shandong Co., Ltd. announced that the clinical trial application for an additional indication of its self-developed bevaglutide (development code: GZR18) injection has been approved by the National Medical Products Administration. The new indication is for the treatment of moderate to severe obstructive sleep apnea (OSA) in obese adult patients. Currently, GLP-1 drug options for this indication are extremely limited globally, and bevaglutide is expected to bring a new treatment option to this large patient population.
Gan & Lee Pharmaceuticals' self-developed bevaglutide injection is a once-every-two-weeks GLP-1RA. Prior to this clinical approval, the company was actively advancing clinical development for obesity/overweight weight management and type 2 diabetes indications. Clinical study data has shown that bevaglutide can effectively reduce body weight and lower blood glucose, while comprehensively improving other metabolism-related indicators. Its safety and tolerability profile is consistent with the GLP-1RA drug class, and it is expected to become the world's first marketed GLP-1RA biweekly formulation. Currently, bevaglutide injection has entered Phase III clinical studies in its global development program.
02/ Abbisko Pharma's Pimicotinib Records First Global Prescription
Recently, Abbisko Pharma (02256.HK), a Qiming Venture Partners portfolio company, announced that Beijing Jishuitan Hospital has issued the world's first prescription for its self-developed Class 1 innovative drug pimicotinib hydrochloride capsules (brand name: BeiJieMai®), for the treatment of tenosynovial giant cell tumor (TGCT). Global commercial rights for BeiJieMai® are held by Merck Group.
As the first and currently only approved Class 1 innovative drug for TGCT treatment in China, BeiJieMai® was approved by the National Medical Products Administration in December 2025 for adult patients with symptomatic TGCT where surgical resection could result in functional limitations or more serious complications. Previously, it had been granted Breakthrough Therapy designation by both the National Medical Products Administration and the FDA.
Professor Niu Xiaohui of Beijing Jishuitan Hospital, principal investigator of the MANEUVER study, said: "In the past, clinical treatment options for TGCT were limited, and patients with recurrent tumors or who were not candidates for surgical resection faced long-term treatment dilemmas. The clinical availability of BeiJieMai® fills this gap, potentially transforming TGCT from a refractory disease dependent on repeated surgeries into a chronic condition that can be managed through standardized, full-course oral targeted therapy — bringing hope for patients to return to normal life."
03/ Jacobio Pharma Receives $100 Million Upfront Payment from AstraZeneca
Recently, Jacobio Pharma (01167.HK), a Qiming Venture Partners portfolio company, announced that it has received a $100 million upfront payment from AstraZeneca. The payment was made under the collaboration and license agreement reached between the two parties on December 21, 2025, for the pan-KRAS inhibitor JAB-23E73.
JAB-23E73 is an investigational oral pan-KRAS inhibitor being developed for a broader population of KRAS-driven tumor patients. Dr. Yinxiang Wang, Chairman and CEO of Jacobio Pharma, said: "Receiving this upfront payment is an important milestone in our partnership. We are pleased to work closely with our partner to accelerate the global development of this program, with the goal of bringing new treatment options to patients as soon as possible. Jacobio will continue to leverage its deep expertise in oncology and KRAS-targeted drug discovery to expand the global reach of its product pipeline and bring more treatment choices to patients worldwide."
Past Issues
Qiming Weekly | 10 Key Updates from Qiming Venture Partners Portfolio Companies Vol. 10, 2026.3.24
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 its inception, the firm has focused on investing in early and growth-stage outstanding enterprises 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 gone public 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. More than 80 portfolio companies have become recognized unicorns or super-unicorns in their respective industries.
Many Qiming Venture Partners portfolio companies have grown into the most influential companies in their 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, 0800.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), Hepb, Yuanxin Technology, MediLink Therapeutics, LaNova Medicines, StepFun, and others.