Lupeng Pharmaceuticals is a Guangzhou-based clinical-stage firm that focuses on drug discovery and developing novel therapies for cancer. The company is engaged in advancing oncology therapeutics through clinical development. It secured $35 million in the second tranche of a pre-Series B financing. The round was co-led by Temasek, according to the report. The article does not disclose additional financial terms, other participating investors, founding year, or operating metrics. Lupeng Pharmaceutical is a privately-held biopharmaceutical company and parent of US subsidiary Newave Pharmaceutical Inc. that discovers and develops innovative small‑molecule drugs for unmet needs in cancer treatments. The company’s pipeline includes more than 10 drug candidates with core programs LP-108 (a selective Bcl-2 inhibitor), LP-118 and LP-168 currently in clinical trials across the United States, the United Kingdom, Europe and China. It plans to use newly raised capital to support clinical trials for LP-108, LP-118, LP-168, LP-128 and LP-169 and to advance multiple preclinical programs. Lupeng co-founders Dr. Fenlai Tan and Dr. Yi Chen founded the company in June 2018 in the development zone of Guangzhou, China, and maintain operations out of Guangzhou and San Francisco, CA. The company has begun phase 1 construction of a Guangzhou headquarters with R&D and manufacturing facilities, planned to open in 2024. Lupeng has previously secured multiple rounds of financing from well-known investors and recently closed a new financing round.

Total raised

$70M

Funding rounds

2

Latest round

Series B

Latest activity

Nov 2022