On December 18,2023, Shanghai Novamab Biopharmaceuticals Co., Ltd. (hereinafter referred to as: "Company or Novamab") successfully completed completed a Series B financing of over 100 million CNY. This round of financing was led by Shanghai Shengdi Private Equity Fund Management Co., Ltd. (referred to as "Shengdi Investment"), with the old shareholder Chengdu Bio-City Fund (Guosheng Capital) increasing its follow-on investment, and Orient High Saint and Bank of Communications International acting as financial advisors for this round. This round of funds will be used for the phase II clinical research study of two inhaled antibody drugs (LQ036, LQ043) independently developed by the company based on the "Inhaled Biologics Research and Development Platform", as well as for further expanding the team and supplementing working capital.

About Novamab

Novamab was founded in 2017, focusing on the development of inhaled nanobody drugs. The company has now established a complete R&D, CMC, and pilot production system, built five innovative technology platforms, and spearheaded rapid-onset, highly specific inhaled nanobody research. It is currently the only enterprise in China with the full-process development capability of inhaled nanobodies.

Novamab, relying on its proprietary technology platform, has developed a series of new biopharmaceuticals with independent intellectual property rights. Among them, the core pipeline as the world's first inhaled nanobody drug for asthma treatment, LQ036 has completed Phase I clinical studies in both China and Australia and will advance to the Phase II clinical study soon. Phase I clinical trials of LQ036 showed excellent drug safety and efficacy on corresponding biomarkers. The LQ043 project has completed Phase Ia study, also demonstrating excellent safety and drug tolerance, and Phase Ib/II clinical trials are about to start.

Dr. Yakun Wan, the founder of Novamab, said:

"I appreciate the new and old shareholders for their affirmation and recognition of the Novamab team and products. We will use the funds efficiently to advance the core inhaled nanobody pipeline to a critical clinical milestone, fully verifying product efficacy and safety. In the future, the company will continue to adhere to the philosophy of 'Camel antibodies start a healthy future, and create the world's top nanobody drug development enterprise,' stay grounded in nanobodies, focus on clinical problems, revolve around the core technology platform, continuously bring out more differentiated and competitive innovative drug products, address unmet clinical needs, and benefit more patients."

Shengdi Investment, the lead investor of this round of financing, commented: 

"Nanobodies have become a new hot breakthrough direction in global antibody drug R&D and have unique advantages in developing inhaled biologics for respiratory diseases. Novamab has built mature nanobody discovery platforms, inhaled biologic drug development platforms, and Pichia pastoris CMC development platforms. The two inhaled nanobody drugs that have entered the clinical phase have clear advantages over injectable drugs in terms of onset speed, compliance, safety, and cost. The founding team has a very visionary and unique technical barrier in the nanobody field, with the capability of full-process development of nanobodies and the potential to continuously develop blockbuster products. We look forward to the company bringing welfare to patients in China and around the world as soon as possible."

Chengdu Bio-City Fund (Guosheng Capital) said: 

" Novamab team has the core ability to build a top innovative biopharmaceutical enterprise labeled with nanobodies. Inhaled nanobody therapeutic products can greatly improve the accessibility of biopharmaceuticals in the field of respiratory diseases to address unmet clinical needs. Novamab has unique platform technology, with excellent expandability, and besides the respiratory pipeline, products for large-patient-base autoimmune diseases and difficult-to-treat tumors are also being vigorously promoted and partners are being sought. We are confident in the future development of Novamab and our industry cooperation, and we continue to increase our investment to fully support the company's product development process, helping it become a global leader in innovative Nanobody drugs."

Wang Kai, partner and general manager of Hangzhou Taiyi at Orient High Saint, said:

" Innovative antibody biopharmaceuticals are the key tracks we have focused on in the past two years, and we are honored to have efficiently helped Novamab complete this round of financing. During the service process, we witnessed Novamab's solid basic skills in nanobody development, strong project execution capability, and its in-house built inhaled large molecule drug development platform has significant differentiation and technical advantages, showing promising clinical and market potential. It is a very rare and not yet highly focused high-quality enterprise in the field of nanobodies in China. With the global patent release brought by Ablynx, Novamab has attracted the favor of many large pharmaceutical companies at home and abroad. We believe that Novamab will become a leading brand in China and the world, and we all look forward to the bright future of Novamab!"

 Wilfred Sum, head of BOCOM International Investment Banking Department, said：

 "In the realm of medical health, particularly amidst the surge of biopharmaceutical innovation, nanobody technology is gradually emerging as a pivotal force for treating a multitude of diseases, owing to its unique molecular characteristics and highly customizable potential. The groundbreaking progress made by Novamab in this field, especially the clinical research achievements of its core pipelines, LQ036 and LQ043, vividly demonstrates the immense potential and advantages of nanobody drugs in the treatment of respiratory diseases such as asthma. As the financial advisor for this round of financing, BOCOM International is immensely honored to be involved in and witness the growth and development of Novamab. Leveraging our professional team's profound understanding of the biopharmaceutical industry and extensive experience, we efficiently facilitated the financing process. We firmly believe that, with its cutting-edge technology and innovative products, Novamab will occupy a significant position in the global biopharmaceutical market, bringing greater hope and potential to a vast number of patients."

About Shengdi Investment

Shengdi Investment is a professional equity investment institution under Jiangsu Hengrui Medicine Co.,Ltd. It was established on December 6, 2021, in Pudong, Shanghai, with a registered capital of 30 million yuan. Shengdi Investment adheres to the concepts of professionalism, focus, innovation, and growth, engages in equity investment in the medical and healthcare industry, pays close attention to innovative R&D and clinical needs in the biopharmaceutical field, adheres to market-oriented and differentiated investment strategies, and is committed to building a win-win biopharmaceutical ecosystem and a leading biopharmaceutical innovation investment platform in China.

About Chengdu Bio-City Fund (Guosheng Capital)

Guosheng Capital is a state-owned industry capital rooted in Chengdu Tianfu International Bio-city, serving global innovative life sciences development. At present, it has formed a group of 10 linked industry parent-child funds with a total scale exceeding 13 billion yuan. So far, it has invested in more than 70 outstanding enterprises in the medical and health field, involving modern biotechnology drugs, chemical innovative drugs, high-performance medical devices, professional outsourcing services, and health services. Following the strategy of government guidance + market logic + professional operation, it is committed to becoming the most influential comprehensive financial service provider in the industry in China.