On July 7, 2022 Zhiyi Biotech reported that it has raised $15 million in its B++ funding round (Press release, Guangzhou Zhiyi Biotech, JUL 7, 2022, View Source [SID1234616554]). The funds will be used to boost the clinical development of the company’s live biotherapeutic products (LBPs) pipelines. It’s worth mentioning that Zhiyi has successfully completed a total of $45 Million in B, B+ and B++ funding , with investors including Qingkong SinoKing Capital, SDIC Venture Capital, KIP etc.
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Zhiyi is a clinical-stage biotech leading in LBPs in China. It has built up a complete technical and industrial platform, covering from the isolation and identification of new functional strains to the development of innovative LBPs. Notably, the lead drug candidate in Zhiyi’s pipelines, SK08, is the first LBP developed on a unique bacterial strain Bacteroides Fragilis, and whose clinical progress is ahead of other LBPs in China. Phase II clinical trial of SK08 carried out in China to treat IBS-D is expected to be completed this year, and phase Ib/II trial of SK08 combined with PD-1 inhibitor for advance solid tumor has been initiated already. Meanwhile, several products are undergoing IND filing to both FDA and NMPA. More programs are expected to enter clinical stage in the foreseeing year.
"We are grateful to have the support and trust from our investors," said Dr. Ye Wang, CEO of Zhiyi Biotech. " The progress in our pipeline is attributed to our team’s continuous effort and persistence in R&D. Zhiyi has been always focusing on the unmet medical needs and dedicating to develop accessible drugs to benefit more patients. We are looking forward to strengthening our international collaboration with peer companies, to promote development of the whole LBPs industry.