- Supported by long-term investors to build leading TPD drug discovery platform and screening capabilities
- Advancing two molecular glue degraders with best-in-class potential into the clinic
- Accelerating lead optimization entry of first-in-class molecular glue and heterobifunctional degraders
SAN DIEGO and SHANGHAI, Aug. 1, 2022 /PRNewswire/ -- GluBio Therapeutics, a biotech company focused on developing novel targeted protein degradation (TPD) drugs, recently announced the completion of Series A+ financing of $22 million. This round is led by Qiming Venture Partners and joined by Lilly Asia Ventures and Kaitai Capital, bringing the total capital raised to nearly $90 million since its establishment in March, 2021.
The investment will help advance two molecular glue degraders with best-in-class potential into the clinic for hematological malignancies, accelerate the lead optimization entry of three first-in-class 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.
"We are thrilled to advance molecular-glue and heterobifunctional protein degraders, which hold a great promise of eliminating disease-causing proteins that are not amenable to traditional therapeutic approaches," said Gang Lu, Ph.D., GluBio Founder and CEO. "In the past 16 months, GluBio made tremendous progress in developing best-in-class and/or first-in-class TPD assets and state-of-the-art TPD platform, fully maximizing the therapeutic and commercial potential of TPD technologies. We completed this round within two months of Series A financing. We are grateful for the unwavering confidence investors have in our assets and platform, and confident that this round will accelerate a smooth and successful execution of our pipeline and platform."
About GluBio Therapeutics, Inc
GluBio Therapeutics is a pioneering TPD company dedicated to developing targeted protein degraders for human diseases with unmet medical needs. Founded by seasoned drug developers with deep knowledge and expertise in TPD drug discovery, the company has established a proprietary TPD discovery platform and robust screening capability. GluBio is advancing a diverse pipeline of highly selective small-molecule degraders across multiple therapeutic areas including oncology and immunology. The company has research operations in both San Diego, CA, USA and Shanghai, China.
Source: GluBio Therapeutics