Hangzhou Medimscience Biomedical Technology Co., Ltd. recently announced the completion of a new round financing of tens of millions of RMB. Medimscience Bio. is the pioneer emerging biotechnology enterprise focusing on the development of biopharmaceuticals with new targets for macrophages in the tumor microenvironment and autoimmune diseases in China. Drugs targeting macrophages can enhance phagocytosis of tumor cells by macrophages, recruit and activate downstream effector T-cells, and achieve the reprogramming of the tumor immune microenvironment to reach the goal of controlling or even curing solid tumors completely. This will greatly remedy the shortcomings of existing tumor treatment drugs. Additionally, drugs based on the mechanisms that motivating macrophages to eliminate abnormally activated T cells and modulating macrophage to inhibit the initiation of Th17 responses, can overcome the limitations of existing autoimmune disease treatments, and offer effective and improved treatment options for individuals suffering from autoimmune diseases. This round of financing was exclusively led by Ming Bioventures, with continued investment from our old shareholder, Co-win Ventures, and the funds raised will be mainly used for the R&D, product registration and clinical filing of the existing new targets and new product pipeline.

Tumor immune microenvironment is the soil for the occurrence and development of solid tumors, and also determines the effect of tumor immunotherapy. Numerous studies have shown that most solid tumors are "cold tumors" with little T-cell infiltration and more infiltration of myeloid cells such as macrophages. Tumor-associated macrophages help tumors evade recognition by the immune system, inhibit the tumor-killing activity of T cells, and even assist in the formation of a physical barrier to inhibit T cell infiltration. In addition, based on mechanisms that motivates macrophages to control pathologic T cell activation, new drugs targeting macrophage introduce a groundbreaking opportunity to overcome the limitations of existing autoimmune disease treatments, providing effective and improved treatment options for individuals suffering from autoimmune diseases. At present, a number of international biotechnology companies, including Pheast Therapeutic, Verseau Therapeutics and AltruBio have begun to lay out new macrophage targets and have received large amounts of early investment. As a domestic emerging biotechnology enterprise, Medimscience Bio., starting from the source innovation of basic science, is committed to the research and development of new macrophage targets and new drugs, and is in the leading position in the field of new macrophage targets.

The Founder of Medimscience Bio. said, "We are grateful to Ming Bioventures for their recognition of the Medimscience Bio. team. Currently, there is a scarcity of biopharmaceutical companies engaging in source innovation in China. From the very beginning of its foundation, Medimscience Bio. has adhered to the original innovation of immunotherapy theory, focusing on the discovery of new macrophage targets and validation of new mechanisms, and the development of first-in-class drugs targeting macrophage. At present, some of our new target drug candidates have shown tumor regression or enteritis cure in experimental animals, and some of our products have entered the stage of drugability evaluation. We are looking forward to the next stage of clinical reporting of these products, so that they can be translated into the clinic as soon as possible for the benefit of patients around the world."

Dr. Jack Shi, Partner of Ming Bioventures, said, "Tumor immunotherapy drugs represented by PD-1 inhibitors have opened up a new era of tumor treatment, but there are shortcomings of low response rates and development failures in multiple indications, and the research and development of new target drugs for tumor immunity is expected to expand the boundaries of tumor immunotherapy. Targeted drugs, including TNFα inhibitors and JAK inhibitors, dominate a large share of the autoimmune disease treatment market. However, the drawbacks and limitations of these drugs still leave considerable room for treatment with new mechanism. The founder team has more than 10 years of experience in basic research and industry, high efficiency in project execution, and has constructed a complete platform of target discovery, mechanism research, drug discovery, durability evaluation, and CMC, and has achieved several innovative discoveries and drug development milestones. Ming Bioventures is pleased to have the opportunity to assist Medimscience Bio. in its early stage of development, and we are confident that the company will be able to make breakthroughs in the field of macrophage immunotherapy in the future, addressing unmet clinical needs and benefiting more patients."

Dr. Xin Huang, Managing Partner of Co-win Ventures, said, "The current status of the development of tumor immune targets in China, including PD1 and CD47, demonstrates that the development of new target drugs based on innovative mechanisms is still the goal pursued by the industry. Moreover, the treatment of autoimmune diseases also necessitates the exploration of new therapeutic options beyond the current reliance on TNFα inhibitors and JAK inhibitors. Medimscience Bio. 's team has the ability of international original scientific discovery, profound biological investigation, coupled with rich and mature experience in industrial transformation, which is expected to produce first-in-class drugs in human. We are pleased to continue to invest in Medimscience Bio. to support original mechanism discovery to industrial translation, thereby addressing unmet clinical needs and benefiting patients."