BridGene Biosciences Secures $28 Million to Boost Clinical Trials and Expand Its Drug Development Pipeline
BridGene Biosciences Secures $28 Million in Financing
BridGene Biosciences, a pioneering company specializing in the development of small molecule drugs for traditionally challenging targets, has announced the successful completion of a $28 million Series B+ financing round. This funding, led by Bayland Capital and supported by noteworthy investors such as GTJA Investment Group, Proxima Ventures, Lapam Capital, and Grains Valley Venture Capital, is expected to significantly advance the company's clinical programs and strategic initiatives.
Aiming for Clinical Advancements
The capital raised will primarily be utilized to propel BGC-515, a covalent TEAD inhibitor designed to treat solid tumors, through its ongoing clinical development and on towards Phase 2 trials. Besides enhancing this lead program, the funding will also support BridGene’s other initiatives, which are expected to enter clinical trials by 2027, thus expanding the company's influence in oncology and autoimmune disease treatments.
Dr. Ping Cao, CEO and co-founder of BridGene, emphasized the importance of this funding: "Our recent financing provides vital resources to advance our lead program, BGC-515, through Phase 2 clinical development. This funding will also enable us to propel additional pipeline programs towards the clinic and expand our proprietary IMTAC™ chemoproteomic platform through strategic collaborations."
Innovation through Collaboration
BridGene Biosciences is known for its IMTAC™ (Isobaric Mass-Tagged Affinity Characterization) platform, a cutting-edge chemoproteomic method that allows the discovery of small molecules against traditionally 'undruggable' targets. This financing round will not only enhance the company's lineup of therapeutic candidates but also deepen its capacity for strategic partnerships, reinforcing the broad applicability of IMTAC™ across various fields including oncology, immunology, and neurology.
Yuexing Su, Founding Partner of Bayland Capital, expressed enthusiasm about leading the financing round. He remarked, "BridGene's IMTAC™ platform represents a powerful and differentiated approach to drug discovery, enabling the company to discover small molecules against challenging targets. With a growing pipeline and multiple follow-on programs, we believe BridGene is well-positioned to deliver transformative therapies to patients and generate substantial value in the biopharmaceutical field."
About BridGene Biosciences
Founded with a mission to innovate in the drug development arena, BridGene Biosciences focuses on addressing significant health challenges by pioneering small-molecule drugs for difficult-to-treat conditions. Leveraging their unique IMTAC™ platform, they are at the forefront of discovering new binding sites and drug candidates that are critical for high-value treatment targets.
The ongoing advancement of BGC-515, reconfirmed by successful financings like the recent $28 million Series B+, highlights BridGene's commitment to a diversified therapeutic pipeline that includes projects in oncology and autoimmune diseases. The firm integrates advanced chemical biology with translational insights to discover and develop new therapeutic options for patients in need.
For further details on BridGene and their initiatives, please visit their official website: BridGene Biosciences.
Investor Profiles
- - Bayland Capital: Founded in 2019, this investment firm focuses on healthcare and life sciences, partnering with innovative firms to drive biomedical advancements.
- - GTJA Investment Group: Established in Shenzhen in 2001, GTJA specializes in investing in healthcare and has a significant portfolio across various investment stages.
- - Proxima Ventures: A venture capital fund that emphasizes disruptive medical and biotechnology investments, often supporting companies with remarkable growth potential.
- - Grains Valley Venture Capital: Known for its early-stage investments in cutting-edge technology sectors, they aim to empower technological advancements and innovation.
This new financial boost positions BridGene Biosciences favorably in the competitive biotech landscape, potentially leading to groundbreaking therapeutic solutions that could transform patient care in significant ways.
Topics Health）
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