On August, 7, 2023 DotBio, the biopharmaceutical company pushing the boundaries of antibody therapeutic modalities to bring more effective therapies to patients, reported the closing of a USD 5.6 million Pre-Series A financing round (Press release, DotBio, AUG 7, 2023, View Source [SID1234646735]). The oversubscribed round was led by specialist life sciences investors Proxima Ventures, Gaorong Capital and AIM-HI Accelerator Fund.

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The funds will be used to commence pre-clinical studies, including animal efficacy and Chemical, Manufacturing and Controls studies, that will validate DotBio’s therapeutic candidates ahead of future clinical development. In addition, DotBio’s proprietary, modular DotBody platform will be scaled and automated to allow for the screening of thousands of multi-functional antibody prototypes against diverse extracellular and intracellular immune-oncology targets that are suited as next-generation clinical candidates.

Proxima Ventures, a specialist seed-to-growth healthcare Venture Capital firm based in Shanghai, led the financing. Haolin Sung, EMBA, a serial biotech entrepreneur and Partner of Proxima Ventures, joins DotBio as a member of the Board. Gaorong Capital is focused on early and growth-stage investments, with a specialty in new consumption, new technology and healthcare. Dr Beilin Le, PhD, an Executive Director of Gaorong Capital’s Healthcare Division, will join DotBio as a Board Observer. Dr Sujuan Ba, PhD, Co-Founder and CEO of AIM-HI Accelerator Fund, a US-based global not-for-profit organization dedicated to promoting breakthrough technologies and therapies in the cancer space, will join DotBio as a Strategic Advisor.

Ignacio Asial, Chief Executive Officer at DotBio, commented: "We are pleased to be supported by leading life science investors to close our pre-Series A financing round, allowing us to accelerate the development of our internal pipeline of multi-functional antibodies with the potential to treat a wide range of cancers and improve patient lives. We are making significant progress in developing intracellular antibody therapies, work that was highlighted in our Nature Communications publication in 2022. This round will allow us to accelerate these efforts, with the aim of revolutionizing how we target intracellular oncogenes. With partnered programs expected to enter the clinic in the near future, our humanized domain antibody continues to be de-risked, allowing us to develop more ambitious therapeutic modalities. I’m very pleased to welcome Mr. Haolin Sung to our Board of Directors, whose global experience in biotech venture creation, management, and funding will be of great value as we enter this next phase of growth."

Haolin Sung, Partner at Proxima Ventures, replied: "I’m pleased to work with the DotBio team at a time when new, multi-targeted therapeutic modalities are gaining global momentum and pushing the boundaries of what is possible in therapeutic discovery. DotBio’s approach to identifying and derisking multi-specific antibodies by comparing thousands of prototype molecules in a data-driven approach is at the cutting edge of science. I’m excited about the Company’s modular technology platform and believe it will open up unprecedented possibilities for patients around the world through the facilitation of rapid prototyping of potential new therapies that target both extracellular and intracellular disease drivers. I look forward to supporting the company on its mission to deliver more effective oncology therapies that can reach patients faster."

Beilin Le, Executive Director at Gaorong Capital, added: "The DotBio team has demonstrated that their humanized domain antibody technology platform is unique, differentiated, and has the potential to revolutionize the multi-functional antibody space. Their partnerships with CStone Pharmaceuticals, Junshi Biosciences, and Uni-Bio Science Group highlight the company’s value and expertise. Remarkably, DotBio’s out-licensing of a DotBody module to Junshi Biosciences in 2022 resulted in the rapid development of JS207, a bi-specific antibody for oncology indications, which has already progressed to Investigational New Drug (IND) filing in 2023. As JS207 moves through clinical trials, it will further validate the effectiveness of DotBody technology. I can’t wait to see the company scale and advance its internal pipeline".