GluBio aims big as it takes capital raised to $90 million
GluBio Therapeutics, a Sino-American biotech developing novel targeted protein degradation (TPD) drugs, has completed a Series A+ financing of $22 million.
This round, led by Qiming Venture Partners and joined by Lilly Asia Ventures and Kaitai Capital, brings the total capital raised to nearly $90 million since GluBio’s establishment in March, 2021.
The investment will help advance two molecular glue degraders into the clinic for hematological malignancies, accelerate the lead optimization entry of three TPD drugs for solid tumors and inflammatory diseases, and further upgrade GluBio’s proprietary TPD discovery platform and screening capabilities tailored for rapid discovery and optimization of small molecule protein degraders for ‘undruggable’ therapeutic targets.
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