Inventage Biotech Closes Nearly $60 Million Series A to Develop Globally Leading First-in-Class Drugs
First in China, Best in the World
On March 17, Guangzhou MingMed Biotechnology Co., Ltd. (MingMed, hereinafter referred to as "MingMed"), a company dedicated to developing globally competitive first-in-class drugs, announced the completion of a nearly $60 million Series A financing round led by Gaorong Ventures.
Founded in October 2019, MingMed boasts an R&D team composed of multiple top-tier scientists and experts, as well as a scientific advisory board featuring globally influential scientists. The company's product pipeline spans ophthalmic drugs, small-molecule immunotherapies, cell therapy, and novel aesthetic medicine drugs, with each program having achieved world-class breakthrough progress.
Yan Zhang, co-founder and CEO of MingMed, stated: "We are deeply grateful to our investors for their recognition and support of MingMed. The company has now entered a period of rapid development. Since 2021, MingMed has achieved major breakthroughs across multiple innovative drug pipelines. Our novel therapeutic for dry age-related macular degeneration yielded exciting results in an exploratory double-blind clinical trial involving dozens of patients. We have also successfully completed pilot-scale production of our novel recombinant protein aesthetic drug. We expect multiple pipeline candidates to enter Phase I/II clinical trials in both China and the US within the year, further accelerating the growth of our company's value. MingMed's mission is to understand the causes, illuminate medicine, and serve humanity — and we will continue working hard to contribute to human health."
A project leader at Gaorong Ventures commented: "First in China, best of the world. MingMed's team possesses forward-looking R&D capabilities, a highly collaborative spirit, exceptional execution, and broad international vision. The company has achieved breakthrough results in multiple blockbuster drug markets worth billions or even tens of billions of dollars. We are delighted to have the opportunity to partner with such a team and look forward to accompanying and supporting the company's development over the long term."
For more information, please visit MingMed's official website: http://www.ming-med.com/.
