BridGene lands $38.5m Series B

• The proceeds will also be used to develop BridGene’s leading pipeline project
• Lapam Capital is a Chinese healthcare venture firm
• It invests in early to middle-stage, fast-growing companies that have innovative pharmaceuticals and medical devices

BridGene Biosciences Inc, a biotechnology company, has secured $38.5 million in Series B financing.

Lapam Capital, Junson Capital and Dyee Capital led the round.

The proceeds will also be used to develop BridGene’s leading pipeline project, a covalent TEAD inhibitor, as well as a few other undisclosed first-in-class oncology pipeline projects, which were initiated based on discoveries using the IMTAC platform.

“This financing, along with our collaboration with Takeda Pharmaceutical announced last year, significantly strengthens our resources to discover breakthrough medicines for patients,” said Ping Cao, Ph.D., CEO and co-founder of BridGene, in a statement. “Our long-term goal is to find small-molecule drugs for the most important targets in the proteome.”

Headquartered in Beijing, Lapam Capital is a healthcare venture firm. Lapam is currently managing five RMB funds and one USD fund, with more than 10 billion RMB under management. Lapam Capital focuses on investments in early to middle stage fast-growing companies that have innovative pharmaceuticals and medical devices. It has invested in about 60 biopharmaceutical companies and 10 medical device companies to date, including Betta Pharma, RemeGen Co. Ltd., Clover Biopharmaceuticals, Yahong Meditech and Stemirna Therapeutics.

Junson Capital is a global multi-asset investment management company that manages more than 30 portfolio companies and aims at backing disruptive technology and science leaders.

Dyee Capital focuses on investments in the fields of healthcare and information technology. Dyee Capital has invested in many innovative pharmaceutical companies, including Zelgen Biopharmaceuticals, Allist Pharmaceuticals, InventisBio, Ionova Life Science, Ark Biosciences, Leads Biolabs, Yingli Pharma, and Zhimeng Biopharma.