Nov. 8th, 2021, Shanghai Zhimeng Biopharma, Inc. has announced the successful completion of a 55 million series B financing. Proceeds from the financing will mainly be used to accelerate a global phase II clinical trial of its novel HBV capsid inhibitor ZM-H1505R and to support another two phase I programs: a TLR8 agonist for treating HBV and a KCNQ2/3 potassium channel opener for the treatment of epilepsy, pain and depression.
Shanghai Zhimeng Biopharma is a clinical stage biotech focusing on discovery and delivery of novel treatments for serious virus infections and neurological disorders. “We are grateful for the overwhelming interests from investors in our drug development programs and strategies to move these programs forward”, said Huanming Chen, Company’s founder and CEO, “we would like to thank the new investors for their trust and the previous investors for their support to bring the programs to their current stages. We will use the new fund to advance the clinical developments of our drug candidates. We are hopeful that these products will bring benefits to millions of patients”.