KSKD
凯思凯迪
KSKD (凯思凯迪, also known as CasCade Therapeutics) is a Shanghai-based biopharma company founded in 2017 that develops metabolic disease drugs targeting nuclear receptors and G protein-coupled receptors (GPCRs) . Its pipeline includes linafexor (CS0159), an in-house developed candidate that entered Phase I clinical trials in the US for primary sclerosing cholangitis as of early 2022 .
The company has raised multiple rounds with Gaorong Ventures leading its Pre-A round in October 2020 and re-upping in subsequent financings . In its most recent disclosed round — a nearly 500 million yuan financing announced in February 2026 — Zhongping Capital led, with new investors including Guoshou Capital, Qingsong Capital and Qingdao Guoxin joining, while prior lead SDIC Pioneer and existing shareholders Gaorong Ventures and Kangjun Capital also added . Earlier, Xihu Innovation Investment led a near-100-million-yuan Pre-A+ round in which Fuhui Ventures and Jindi Capital participated as follow-on investors .
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CasKedy announced the completion of a nearly RMB 100 million Pre-A+ funding round.
