November 6, 2020. Shanghai, China. Shanghai Zhimeng Biopharma, Inc. announced that it had closed its A round of fundraising with 33 million US dollars. The major part of this fund will be used to finance the phase Ib clinical studies of ZM-H1505R, Zhimeng's HBV capsid inhibitor designed for the treatment of chronic hepatitis B virus infection;the rest of the money will be used to support the IND-enabling and preclinical studies of the company's other HBV drug candidates, as well as products developed to treat epilepsy, pains, depress and stroke.
Trinity Innovation Fund led this round of financing, with Shenzhen Capital Group Co.,Ltd and Lake Capital following the suit. Other investors include SDIC Unity Capital, South China Venture Capital,Oceanpine Healthcare Fund and Photon Fund.
Zhimeng Biopharma is a startup biotech company with focus on discovering and developing innovative therapies for treating chronic hepatitis B virus infection and neurological diseases. Company founder and CEO Huanming Chen, Ph.D. said that "we are grateful to the investors for their vision and trusts. We share same values of our products. We are very hopeful that Zhimeng's HBV and CNS products will be major components of future therapies in the two disease areas".