2024-02-08 Company Announcement

Hope Medicine Inc. completed a series B+ financing round , co-led by Wuxi Capital and VMS Group

Recently, Hope Medicine Inc. (“HopeMed”) announced it has completed a Series B+ financing round of nearly RMB 200 million, co-led by Wuxi Capital and VMS Group, with participation from Beijing Huairou Science City, Ennovation Ventures and Beijing Zhongyin. Existing shareholders Trustbridge Partners, Grand Flight Investment, Qiming Venture Partners and Sinovation Ventures also increased their holdings. The financing will strongly support HopeMed’s core asset, a monoclonal antibody, HMI-115 , with two ongoing global Phase II trials, as well as R&D for several pre-clinical assets.

Hope Medicine is a science-driven clinical-stage biopharmaceutical company with research laboratories and offices in Beijing, Shanghai, and Nanjing, China. HopeMed is established on the in-depth expertise in translational medicine and decades of research of Professor Rui-Ping Xiao and her research laboratory at the College of Future Technology of Peking University. Based on excellent scientific research and to improve the quality of life, HopeMed is committed to the research, development, and commercialization of first-in-class medicines for common and major diseases that threaten human health. The company reached a worldwide exclusive license agreement with Bayer AG on the development and commercialization of HMI-115. Besides HMI-115, HopeMed also established a diversified pipeline with internal R&D based on Professor Xiao’s breakthrough research at the Institute of Molecular Medicine (IMM) at Peking University via a joint research lab. As a result, HopeMed brought in MG53 from Peking University, which is a protein with a new target. Preclinical studies have shown that this protein has a promising therapeutic effect on indications such as acute myocardial infarction. Hope Medicine also announced recently that the company has successfully completed a Phase Ib study, “An Open-Label Study, to Evaluate Safety, Tolerability, and Efficacy in Male and Female with Androgenetic Alopecia Treated with HMI-115 over a 24-Week Treatment Period”.

The founder of HopeMed, Professor Rui-Ping Xiao said: “We sincerely thank our new and existing investors for their full trust and support, which empowers HopeMed’s progress. We hope to accelerate HMI-115’s clinical development for the benefit of patients worldwide. We will stay true to our original aspiration, to drive new drug R&D through source innovation, and to accelerate global clinical development of our pipeline to bring more innovative treatment options to patients worldwide.”

HopeMed CEO Nathan Chen said: “Our leading asset HMI-115 is undergoing two global multi-center Phase II trials with focus in China, targeting full proof-of-concept by end of 2024. This financing will strongly support these Phase II trials and subsequent clinical development, while also supporting clinical advancement of other in-house pipeline candidates. The financing success greatly encourages and motivates our team, and we will spare no effort to meet expectations.”

Andrew Ng, VMS Group Head of Healthcare said: “HopeMed has a unique industry-leading translational research platform, together with a profound understanding of disease mechanism. Its pipeline targets large addressable global market with unmet clinical needs, including hair loss and female health, offering a broad and promising outlook. The advancement of its core pipeline, along with several preclinical projects, further demonstrates the company’s robust R&D capabilities. VMS believes that Hopemed’s core products and technical expertise will continuously propel the company’s growth. As a key industrial strategic investor, VMS is committed to providing comprehensive support in terms of financing and CMC capabilities, aiding in company’s rapid development.”

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