LongBio, a Shanghai, China-based Phase III-stage biotech company focused on the R&D of antibody and fusion protein drugs for allergies and complement-mediated diseases, raised an undisclosed amount in Series B2 funding.
The round was led by Qiming Venture Partners, with participation from existing investors.
The company intends to use the funds to advance late-stage clinical studies in its pipeline, strengthen team capabilities, and bolster working capital.
Leveraging its proprietary technology platform, LongBio has developed a range of innovative biologics with independent intellectual property rights. LP-003, an anti-IgE antibody, has demonstrated efficacy, lower dosing, longer dosing intervals, and greater cost-effectiveness. Existing data indicates that:
- LP-003 can extend the dosing frequency of current drugs targeting the same target from once every 2-4 weeks to once every 3-6 months.
- 100 mg of LP-003 showed comparable efficacy to 300 mg of omalizumab.
- Subgroup analysis in Phase II study further revealed that LP-003 may offer superior efficacy compared to omalizumab under similar pollen density conditions.
LongBio has also initiated clinical studies in China for LP-003 in various other indications, including chronic spontaneous urticaria (CSU), asthma, and food allergy. The company aims to present the topline results of the LP-003 Phase II study for CSU, using omalizumab as a positive control, at the 2025 American Academy of Allergy, Asthma & Immunology (AAAAI) meeting in San Diego, US, in February 2025. The US FDA IND filing for CSU and food allergy is currently in preparation, and will be submitted later this year.
LP-005, a potential first-in-class bi-functional anti-C3&C5 antibody, has entered Phase II clinical trials for paroxysmal nocturnal hemoglobinuria (PNH) in China.
FinSMEs
24/09/2024