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Dr. Weidong Jiang embarks on his second entrepreneurial venture, with his newly founded KangaBio securing over RMB 100 million in Pre-Series A financing.
KangaBio recently announced the completion of its over RMB 100 million Pre-Series A financing round. Investors participating in this round include Daoyuan Capital (lead investor), Taikun Fund, TEDA Venture Capital, and Ningbo Dingfu Capital. The company’s angel round was led by Taifu Capital alongside other institutional investors.
Dr. Weidong Jiang
Dr. Weidong Jiang, Founder and Chief Executive Officer (CEO) of the company, boasts extensive experience in protein drug research and development within the pharmaceutical industry. In 2009, Dr. Jiang co-founded Shanghai Henlius Biotech, Inc. (Henlius) and concurrently served as its Chief Scientific Officer. Over the subsequent decade and more, he led the successful development of a series of landmark biologic medicines:
- Hanlikang, the first biosimilar approved for marketing in China;
- Hanquyou, the first domestic monoclonal antibody biosimilar authorized for launch in both China and Europe;
- Handayuan, an adalimumab biosimilar manufactured at the first production base certified with dual GMP standards by China and Europe;
- Hanbeitai, a bevacizumab injection approved for marketing by the National Medical Products Administration (NMPA) of China;
- Hansizhuang, an innovative PD-1 monoclonal antibody that has secured marketing approval.
Shanghai Henlius Biotech, Inc. (02696.HK) was listed on the Main Board of the Hong Kong Stock Exchange in 2019.
About KangaBio
Dr. Weidong Jiang founded KangaBio in 2021. As a biotechnology enterprise dedicated to developing safer and more effective anti-tumor therapeutics, KangaBio leverages globally innovative prodrug protein molecular technology to create next-generation immune agonists and multispecific antibodies. These candidates drastically reduce toxic side effects and significantly broaden the therapeutic window, addressing unmet clinical needs in oncology treatment.
To date, KangaBio has assembled a seasoned R&D team with deep expertise spanning early-stage protein drug discovery, pharmaceutical process development, pharmacology and toxicology research, and regulatory registration filings. The company has built a pipeline of proprietary drug candidates with global intellectual property rights. Over the next two years, KangaBio will accelerate the clinical development of its first globally innovative cytokine prodrug pipeline, while advancing preclinical research and IND applications for its follow-up product lines.