Forward Pharma Raises 100 million in Series A, led by CSPC and Xian Tong Fund
Shenzhen Forward Pharmaceutical Co., Ltd. (hereinafter referred to as " Forward Pharma ") announces the completion of RMB 100 million Round A financing, led by Shi Yao Xian Tong New Drug Fund, followed by existing investors. United Capital is the exclusive financial advisor for the financing. This round of financing will be used for the Phase Ib clinical research of FWD1509, a non-small cell lung cancer targeted therapy drug already launched by the company, and development of subsequent pipelines (including third-generation oral SERD), and necessary team expansion.
Forward Pharma 's is headquartered in Nanshan. The core members of the R&D team come from internationally renowned pharmaceutical companies with rich experience. Forward focuses on unmet medical needs and has built independent innovation capability. FWD1509, company’s first asset has entered clinical stage in both China and US. To date, the company has completed angel rounds, Pre-A rounds led by Lihe Venture Capital, and Round A led by Shi Yao Xian Tong New Drug Fund.
Forward Pharma combines traditional medicinal chemistry design and antibody screening technology with cutting-edge technologies such as computer-aided drug design (CADD), structural characterization, and computational chemistry to create two early drug discovery platforms, one for small molecule drugs and the other for antibody drugs. With its own key drug efficacy verification testing platform, Forward Pharma has built a unique early drug discovery innovation system to achieve higher efficiency in discovering precision medicine.
FWD1509 is Forward Pharma 's flagship product FWD1509 is a new generation of targeted tyrosine kinase inhibitors EGFR/HER2 exon20 insertion mutations. The main indication is non-small cell lung cancers. Lung cancer patients usually have brain metastases. FWD1509 crosses the blood-brain barrier potentially providing a treatment for these patients. Furthermore, comparative activities are demonstrated against targets of prior generations of EGFR inhibitors, including sensitive mutations (such as exon 19 deletions and L858R point mutations in exon 21), the T790M acquired resistance mutation, and rare mutations such as S768, L861, and G719. Therefore, FWD1509 has a great patient coverage and high market potential. Currently, FWD1509 is undergoing Phase I clinical trials in both China and the USA. A second key product is the third-generation oral selective estrogen receptor degrader FWD1802 for treating breast cancer. Other pipeline drugs include IL-13 specific monoclonal antibodies FWB1313 for treating severe asthma and atopic dermatitis, and small molecule inhibitors targeting KRAS G12C/G12D mutations.
"Finding one’s nitche in the market, having unique capabilities, armed with competitive products and talents, these have always been our investment logic," said Liu Jinglong, Executive Partner of Xiantong Capital. "Our investment in Forward Pharma is based on these principles. We value the company’s differentiated strategy on research and innovation. We look forward to FWD1509’s readout and other pipeline drugs."
Han Fengjin, Managing Partner of Stone Medicine Xiantong New Drug Fund and General Manager of Shanghai Shifeng Xinhui Venture Investment Management Co., Ltd., said:
Forward Pharma focuses on research and innovation serving unmet clinical needs in major disease areas. Their differentiated pipeline and development strategy, strong technical strength, and efficient execution have established as unique competitive advantages. We are well impressed. We will leverage in our resources and network to support Forward Pharma 's rapid growth, We look forward to the company becoming a globally competitive pharmaceutical enterprise.
About Shifeng Xinhui
Shanghai Shifeng Xinhui Investment Management Co., Ltd. is a venture capital focusing on innovative drugs and cutting-edge technology platforms. With the support of its pharmaceutical industry shareholder - CSPC (01093.HK), Shifeng Xinhui thrives based on its core competitiveness in identifying and valuing opportunities and post-investment portfolio management. Shifeng Xinhui is dedicated to creating a win-win game for LPs and portfolio companies.
About Xiantong Capital
Xiantong Capital is one of the earliest expertise bio-medical equity investment institutions in China. Xiantong focuses on the pharmaceuticals, medical devices, and biotechnologies. Xiantong has successfully incubated a number of leading companies in many well-defined niche markets. Xiantong Capital has offices in Shenzhen, Beijing, Suzhou, and the United States. Cross-border collaborations bring together a team of investors and advisors composed of industry experts, scientists, and investors in the life sciences field. It manages funds in US dollars and in Chinese yuan. Xiantong has received awards from various institutions.