MingMed Completes Nearly $50 Million Series A+ Round to Accelerate Clinical Trials for Key Pipeline Candidates
Accelerating the development of globally leading first-in-class drugs.
Recently, Guangzhou MingMed Biotechnology Co., Ltd. (MingMed, hereafter referred to as "MingMed"), a company dedicated to developing globally competitive First-in-Class drugs, announced the completion of a nearly $50 million Series A+ funding round. Gaorong Ventures had led MingMed's Series A round and continued to invest in this round.
Founded in October 2019, MingMed has a research and development team composed of multiple top scientists and experts, as well as a scientific committee of globally influential scientists. The company has more than ten products under development in areas including ophthalmic drugs, novel aesthetic medicine drugs, small-molecule immunotherapy drugs, and cell therapy — the vast majority of which are competitive, breakthrough First-in-Class innovative drugs, and the main products have all completed early-stage R&D or have already been commercialized. Among them, a First-in-Class ophthalmic drug for dry AMD received U.S. IND approval in May of this year and has officially entered Phase I clinical trials.
Zhang Yan, co-founder and CEO of MingMed, stated: "In nearly six months, MingMed has completed two consecutive funding rounds, with cumulative financing of nearly $110 million. We are deeply grateful for the recognition and support from both new and existing investors. Since 2021, MingMed has entered a rapid growth phase, with blockbuster pipeline candidates for dry AMD, novel botulinum toxin, and new small-molecule immunotherapy drugs already entering or about to enter clinical trials in China and the U.S. as planned. We will continue to work hard, adhering to our mission of 'understanding causes, illuminating medicine, serving humanity,' to make MingMed a globally competitive biopharmaceutical company and contribute to human health."
Chang Chen, founding partner of Gaorong Ventures, commented: "As a platform-based biopharmaceutical company, MingMed insists on an original R&D path focused on First-in-Class drugs. We greatly respect the MingMed R&D team's deep understanding of disease mechanisms and druggability, and hope that through the team's exceptional execution capabilities and global vision, they will develop blockbuster drugs with worldwide impact in major therapeutic areas such as ophthalmology, aesthetic medicine, and immunotherapy. Gaorong Ventures also looks forward to accompanying MingMed's development for the long term."
For more information, please visit MingMed's official website: http://www.ming-med.com/
