The Venture Codex

Participated · Series B · Sep 2017

XWPharma (formerly XW Laboratories) focuses on research and development of innovative treatments for central nervous system diseases using a proprietary drug discovery platform. Its pipeline includes two lead clinical-stage candidates: XW10172, a once-daily long-acting GABAB receptor agonist for hypersomnia and sleep disorders related to neurodegenerative diseases such as Parkinson’s; and XW10508, a once-daily oral clinical candidate combining NMDA receptor antagonism with AMPA receptor activation for major depressive disorder and chronic pain, with potential abuse-deterrent properties. The company announced it completed a $40 million C round and will use proceeds to advance clinical development of these two programs. XWPharma emphasizes its platform’s ability to improve developability and reduce early-stage project risk. The company also announced leadership changes, appointing Leonard Blum as president and CEO while founder Dr. Xiang Jianing will serve as chief scientific officer and continue to lead Asian operations. Existing investors include JJDC, Zhongjinghe Group, WuXi AppTec and KTB Network. XW Laboratories is a platform-centric biopharmaceutical company focused on discovering and developing novel compounds for neurological disorders. The company is built on three platforms: two designed to improve pharmacokinetics and safety of existing drugs, and a third aimed at reducing mitochondrial damage linked to neurological disease. XW Labs emphasizes medicinal chemistry to enable enhanced drug design across a portfolio of programs. Led by Founder and CEO Dr. Jia-Ning Xiang, the company’s primary R&D activities are based in Wuhan, China and New Taipei City, Taiwan. The company will use the financing to continue development of multiple programs that are entering clinical and IND-enabling studies. XW Labs employs its platforms to potentially host multiple programs across a broad set of indications.

Participated · Series A · Dec 2014

Adagene is a Chinese clinical-stage oncology immunotherapy company led by Co-founder and CEO Peter Luo, Ph.D., that leverages its Dynamic Precision Library platform to advance antibody assets. Its lead agonist program, ADG106, is a human agonistic anti-CD137 monoclonal IgG4 that targets a conserved epitope and is cross-reactive in human, monkey and mouse; ADG106 is being evaluated in an ongoing Phase 1 trial in the U.S. and China in patients with advanced or metastatic solid and liquid tumors. Its lead antagonist program, ADG116, is a fully human cross-reactive antagonistic anti-CTLA-4 monoclonal IgG1 with a novel mechanism including dynamic modulation of CTLA-4 and effective depletion of regulatory T cells. The company intends to use the new funds to continue development of ADG106 and ADG116 and to extend its technology platform. Financially, Adagene completed a $69M Series D financing led by General Atlantic and has raised more than $150M from private financings since 2014. Adagene is an antibody discovery and development company headquartered in Suzhou, China. The company has developed the Dynamic Precision Library (DPL) platform, which it uses to discover a differentiated portfolio of agonist and antagonist therapeutic antibodies. Several of its antibody programs have advanced into clinical trials. Led by co-founder and CEO Dr. Peter Luo, Adagene is focused on advancing novel antibody therapeutics into human trials worldwide. The company recently completed a $50m Series C financing to support global clinical development. Adagene is an antibody discovery and development company based in Suzhou Industrial Park, China. The company uses its proprietary dynamic precision library technology (DPL) to drive discovery and development of novel mono-specific and bi-specific antibody therapeutics. It is building a pipeline of internal programs and also works in collaborations with international pharmaceutical and biotechnology companies across North America, Europe and China. Led by CEO and co-founder Dr. Peter Luo, Adagene focuses on applying its antibody engineering expertise to advance candidates. The company intends to use newly raised funds to advance multiple programs into clinical proof of concept and to continue discovery efforts. The article does not disclose operating metrics beyond the fundraise. Adagene develops novel antibody therapeutics using an expanding portfolio of antibody libraries and discovery platforms. Incorporated in 2011 and led by co-founder and CEO Peter Luo, Ph.D., the company focuses on partnering with pharmaceutical and biotechnology companies to create innovative therapeutic antibodies. A core component of its strategy is entering multiple partnerships with multinational companies for discovery and development of antibody therapeutics. Adagene is also committed to building an internal pipeline focused on novel immune checkpoint targets and target combinations. Financially, the company recently completed a Series A round to support its partnering and pipeline efforts.