Andao Pharmaceutical
安道药业
Andao Pharmaceutical is a Hangzhou-based drug developer founded in 2014, led by chairman and CEO Dong Liu, who established the company after returning from abroad in 2015 . The company focuses on kidney disease, pan-anemia disorders, and cancer, with its core pipeline built around AND017—an oral small-molecule treatment for anemia caused by chronic kidney disease, whose mechanism earned a 2019 Nobel Prize in Physiology or Medicine . AND017 has since advanced to Phase III registration trials as of late 2024, with additional Phase II studies underway for sickle cell disease and myelodysplastic syndromes . Andao is also developing AND019, a third-generation selective estrogen receptor degrader for breast cancer, alongside preclinical small-molecule and ADC programs .
The company raised a $50 million Series B in 2021 co-led by Gaorong Ventures and Northern Light Venture Capital, then closed a Series C of over 400 million RMB in November 2025 backed by Grand Pharmaceutical Industry-Finance, Taiping Healthcare Fund, and others, with Gaorong and existing shareholders following on .
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Coverage
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Hangzhou Andao Pharma Closes $50 Million Series B to Advance Drug Development for Kidney Disease and Cancer
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