#China #Shanghai #Minghui Pharmaceutical #Qiming Venture Partners #OrbiMed

Minghui Pharmaceutical Secures $131 Million Pre-IPO Financing

Minghui Pharmaceutical, a prominent biopharmaceutical firm focused on late-stage clinical development, has recently closed a substantial USD 131 million in Pre-IPO financing. This announcement, made on August 7, 2025, marks a significant milestone for the company as it looks to advance its clinical programs and broaden its presence in the global market.

Overview of the Financing

The funding round was led by the investment firm OrbiMed, with Qiming Venture Partners co-leading the initiative. The financing was bolstered by commitments from existing investor TF Capital, along with new investors such as BioTrack Capital, 5Y Capital, New Day Fund, and Wider Link Enterprise Investment Limited. This infusion of capital is expected to propel Minghui’s operations significantly.

Representatives from OrbiMed and Qiming Venture Partners are set to join Minghui’s Board of Directors, indicating strong confidence from these major investors in the company's vision and potential. Dr. Guoqing Cao, Chief Executive Officer of Minghui, expressed gratitude towards the investors, highlighting the importance of this funding as they prepare to enhance their globally competitive pipeline and transition into a new phase of growth.

Purpose of the Funding

The primary objective of this financing is to further develop Minghui’s clinical programs. Notably, the company will focus on its innovative PD-1/VEGF bispecific antibody and explore combination strategies involving antibody-drug conjugates (ADCs). Additionally, the funds will support the anticipated commercial launch of their topical JAK inhibitor in China, showcasing Minghui's commitment to addressing significant medical needs with innovative solutions.

Dr. David Wang, Partner and Senior Managing Director at OrbiMed Asia, stated their excitement in supporting Minghui as it embarks on this critical commercial phase. He commended the company for its scientific rigor and robust execution capabilities, which he believes will position Minghui favorably within the highly competitive biopharmaceutical landscape.

Minghui’s Pipeline and Strategy

Minghui’s pipeline consists of promising drug candidates, each targeting critical healthcare needs in oncology and immunology. Their lead assets include:

• - Topical JAK Inhibitor: Currently under NDA review in China.
• - Subcutaneous IGF-1R Antibody: Enrolled in Phase 3 trials aimed at treating thyroid eye disease.
• - PD-1/VEGF Bispecific Antibody: Undergoing Phase 2 trials, tested in combination with a TROP2 ADC.
• - B7-H3 ADC: In Phase 3 trials for second-line small cell lung cancer (SCLC).

This strategic focus underscores Minghui's ambition to create transformative therapies that fulfill unmet medical needs.

Backing from Investors

Industry experts such as Dr. Kan Chen from Qiming Venture Partners emphasized their commitment to supporting Minghui's growth and bringing transformative therapies to patients worldwide. With a solid track record and a portfolio of over 580 fast-growing companies, Qiming’s backing will undoubtedly lend weight to Minghui’s endeavors.

Minghui Pharmaceutical’s advancements demonstrate its potential to significantly impact the healthcare sector, not just in China but on a global scale, as they strive to deliver effective treatments for various conditions, improving patient outcomes far and wide. This recent financing marks a critical step towards realizing their ambitious goals in the biopharma landscape.

The conclusion of this funding round is expected to catalyze further advancements in Minghui’s innovative pipeline, setting them on a promising trajectory as they gear up for commercial launch and global expansion.