Qiming Venture Partners Weekly: Top 10 Portfolio Company Updates Vol. 28, Sep. 2, 2026

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 financing 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.

Corporate Financing

01/ AusperBio Closes $120 Million Series C Round

Recently, Qiming Venture Partners portfolio company AusperBio announced the completion of a $120 million Series C financing round, with continued support from Qiming Venture Partners. The proceeds will primarily fund the Phase III registrational clinical trial and commercial preparation for AHB-137, accelerate the development of AHB-171 and next-generation combination therapies, and further expand the company's innovative oligonucleotide product pipeline. With the completion of this Series C round, AusperBio has raised a total of $360 million since 2024, fully reflecting investors' firm confidence and sustained optimism in the company's core product pipeline and differentiated oligonucleotide platform potential.

Dr. Guofeng Cheng, Co-founder and CEO of AusperBio, stated: "This financing represents a significant milestone in AusperBio's development. We are accelerating AHB-137 toward commercialization and continuing to build out next-generation chronic hepatitis B treatment regimens around this core product. We sincerely thank our existing investors for their unwavering trust and support, and warmly welcome RA Capital to AusperBio. This financing will further strengthen the company's R&D and industrialization capabilities, accelerate our HBV functional cure strategy, and drive the continued development of our oligonucleotide platform and product pipeline."

02/ Wasson Therapeutics Completes $15 Million Seed+ Financing

Recently, Qiming Venture Partners portfolio company Wasson Therapeutics, a platform biotechnology company focused on central nervous system degenerative diseases, completed a new $15 million financing round. Neurodegenerative diseases such as Alzheimer's and Parkinson's represent enormous unmet clinical needs globally. Wasson Therapeutics' next-generation protein degradation technology in development offers a novel solution for aggregation proteinopathies. The funds will be used primarily for technology platform iteration and accelerated pipeline development.

Wasson Therapeutics is an innovative biopharmaceutical enterprise focused on next-generation protein degradation technology. Leveraging its proprietary platform technology, the company is dedicated to addressing unmet clinical challenges in the central nervous system field. The scientific founder Professor Ting Han's team reported the first TRIM21 molecular glue in the flagship journal Cell in November 2024, and also first proposed the TrimTAC concept, validating at the cellular level the feasibility of selective degradation of polymeric proteins by TrimTAC — laying an important scientific foundation for technology translation in this field.

Major Partnerships

01/ Biren Technology Completes Inference Verification for Zhipu AI's GLM-5.3-Flash Model

Recently, Qiming Venture Partners portfolio company Zhipu AI (02513.HK) announced the launch and open-sourcing of GLM-5.3-Flash (320B-A18B), the first native multimodal model in the GLM-5 series. Qiming Venture Partners portfolio company Biren Technology (06082.HK), based on the generative AI inference framework SGLang and its mature BIRENSUPA™ software stack, rapidly completed model adaptation on the Bili™ 166M, becoming the first to provide developers and users with rapid deployment solutions and efficient, stable long-horizon task experiences.

In this Day-0 adaptation, targeting GLM-5.3-Flash's text understanding and generation, image understanding, and efficient inference capabilities, Biren Technology rapidly completed model adaptation on the Bili™ 166M based on the generative AI inference framework SGLang and its mature BIRENSUPA™ software stack,打通打通了权重加载、服务启动、文本问答与图像理解等关键链路，并完成功能与精度验证打通了 weight loading, service startup, text Q&A, and image understanding等 key links, and completed functional and accuracy verification.

02/ Cornerstone Robotics Announces Strategic Partnership with Medtronic

Qiming Venture Partners portfolio company Cornerstone Robotics, an innovative surgical robotics enterprise, recently announced a strategic partnership with Medtronic, a global leader in medical technology. Under the cooperation agreement, Medtronic will make a strategic investment of approximately $700 million in Cornerstone Robotics, and will have the right to distribute Cornerstone Robotics' Sentire® laparoscopic surgical robot in certain approved markets outside the United States.

Professor Guowei Ou, Founder and CEO of Cornerstone Robotics, stated: "This collaboration with Medtronic is an important step toward making robot-assisted surgery more accessible and delivering comprehensive benefits to more physicians and patients. Currently, there remains a significant gap between the accessibility of robot-assisted surgery technology and growing clinical demand. Cornerstone Robotics has consistently adhered to full-stack independent R&D and vertical integration, continuously driving the development and innovation of core surgical robotics technologies. This partnership will leverage the strengths of both parties to jointly advance surgical robotics technology and provide higher-quality surgical robotics solutions for physicians and patients worldwide."

03/ UBTECH and Singtel Form Strategic Alliance

Recently, Qiming Venture Partners portfolio company UBTECH (09880.HK) and Singapore Telecommunications Limited ("Singtel") formally signed a Memorandum of Understanding (MOU). The two parties will integrate their core strengths to explore the deep integration of embodied intelligent robotics technology and communications service capabilities, jointly driving the efficient deployment and scaled implementation of robotics solutions in enterprise operations scenarios, and injecting new momentum into industrial intelligent upgrading in the Asia-Pacific region.

In this collaboration, both parties will conduct in-depth exploration around enterprise-grade robotics applications: with UBTECH's leading humanoid robotics technology and product system at the core, and leveraging Singtel's mature 5G network capabilities, extensive enterprise customer coverage, and professional enterprise service experience, they will jointly develop robotics application solutions adapted to diverse operational scenarios, helping enterprises more efficiently adopt and scale intelligent robotics applications to improve operational efficiency and intelligence levels.

04/ Noitom Robotics Deepens Collaboration with The University of Hong Kong

Recently, The University of Hong Kong's "HKU Magic Hour: The Future is Now — HKU Zhangjiang Celebration" series of events and the opening ceremony for Phase II of the HKU Zhangjiang Base were held in Shanghai. During the events, the HKU Shanghai Institute of Intelligent Science and Technology-Noitom Robotics Embodied Artificial Intelligence Joint Laboratory was formally inaugurated.

The joint laboratory more closely integrates The University of Hong Kong's cutting-edge research and talent advantages with Qiming Venture Partners portfolio company Noitom Robotics' capabilities in embodied intelligence data, robotics training, and real-world scenario validation. Going forward, both parties will fully utilize this platform to continuously advance high-quality embodied intelligence data, model training and evaluation, real robotics validation, talent cultivation, and open ecosystem development, working together to accelerate industry development.

05/ Hesai Technology Announces Strategic Partnership with Yingsu Technology

At the second China Spatial Intelligence Conference (ChinaSI 2026), physical AI infrastructure platform company and Qiming Venture Partners portfolio company Hesai Technology (NASDAQ: HSAI, 02525.HK) and 3D-native world model leader Yingsu Technology formally announced a strategic partnership. The two parties will focus on two main threads — "high-quality real-world spatial data supply" and "3D-native world model open-sourcing" — to打通打通从三维感知、实景重建到动态世界建模与可交互仿真的全链路打通 the full chain from 3D perception, real-scene reconstruction to dynamic world modeling and interactive simulation, and jointly build a new open ecosystem for spatial intelligence.

This collaboration will also contribute to advancing the "Large-Scale Spatial Intelligence 3D Data Open Initiative." Oriented toward the development needs of spatial intelligence and world models, this initiative is committed to uniting industry, universities, and research institutions to jointly build open, reusable, and evaluable real 3D data infrastructure, driving high-quality spatial data to form a complete closed loop from collection, reconstruction, and annotation to model training and application validation.

Product Launches

01/

Zhipu AI Officially Releases GLM-5.3-Flash

Recently, Qiming Venture Partners portfolio company Zhipu AI (02513.HK) launched and open-sourced GLM-5.3-Flash (320B-A18B), the first native multimodal model in the GLM-5 series. GLM-5.3-Flash features 320 billion total parameters with capabilities exceeding GLM-5.2, scoring 57 points on the globally authoritative Artificial Analysis Intelligence Index (AA Composite Intelligence Index), entering the global frontier model capability range and tying with Anthropic's most popular model Claude Opus 4.8. In Zhipu AI's proprietary Z.ai Code Bench hands-on evaluation, its programming performance is comparable to Claude Opus 4.8.

GLM-5.3-Flash comprehensively surpasses GLM-5.2, which has twice the parameter count, across all benchmark tests and practical use, while priced at only 1/10th of the latter. This is thanks to its entirely new model architecture — GLM-5.3-Flash's architecture is designed specifically for extremely low cost. Its total parameter count is comparable to GLM-4.5 (355B vs. 320B), but activated parameters (32B → 18B) and layer count (92 → 45) are nearly halved. Combined with Zhipu AI's latest 30T token multimodal pre-training corpus, GLM-5.3-Flash achieves stronger performance with fewer computational resources.

02/

Speediance Gym Monster Family Officially Debuts

Recently, Qiming Venture Partners portfolio company Speediance's next-generation Gym Monster Family officially debuted, with the Gym Monster 3/3S and Gym Monster Ultra offering different product capabilities to meet different training needs, together forming the new Gym Monster Family.

Home fitness needs never have just one answer. Some seek complete workouts, some expect continuous progression, and others want a professional-grade training experience at home. Therefore, the new Gym Monster Family brings three different choices: Gym Monster 3 brings complete intelligent strength training into the home; Gym Monster 3S provides a higher strength ceiling for continuous progression; Gym Monster Ultra brings a more professional strength training experience home. Different choices, sharing the same core Gym Monster Family capabilities.

R&D Progress

Insilico Medicine Initiates Founding of O3DC, an Open Consortium for AI Drug Discovery Benchmark Quality

Recently, Qiming Venture Partners portfolio company Insilico Medicine (03696.HK), a generative AI-driven clinical-stage biotechnology company, announced the founding of the Open Drug Discovery and Development Consortium (O3DC). This is an open initiative aimed at exploring how to evaluate computational drug discovery methods, and the consortium has released its first shared resource: a community-maintained index covering the various benchmarks that the field relies upon.

The O3DC benchmark index collects hundreds of benchmarks across 10 categories, involving 15 alliances and initiatives, covering molecular property prediction, docking and pose prediction, binding affinity, generative design, retrosynthesis, target identification, clinical prediction, and AI agent evaluation. For each benchmark, the index records its metrics, maintaining entity, code repository location, and whether that repository remains active — with the system performing real-time verification of active status via GitHub on each page load.

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Past Issues

Qiming Perspectives | Duane Kuang of Qiming Venture Partners: Embrace the Cycle, Ride Through the Cycle — AI Will Be an Ultra-Long Technology Cycle Qiming Weekly | Ten Major Developments from Qiming Venture Partners Portfolio Companies Vol. 26, 2026.8.18 Qiming Headlines | Qiming Venture Partners and Portfolio Companies Win Multiple Awards Including ChinaVenture's 2025 Top 4 Best VC Firms in China

Qiming Venture Partners was founded in 2006. Currently, the firm manages 11 USD funds and 7 RMB funds, with total assets under management reaching $9.5 billion. Since its inception, Qiming Venture Partners has focused on investing in outstanding early and growth-stage companies in the Technology and Healthcare sectors.

To date, Qiming Venture Partners has invested in over 580 high-growth innovative enterprises, of which more than 210 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 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.