Haihe Biopharma

The company's business model is centered around its internal research and development capabilities, spanning from compound synthesis and preclinical evaluation to clinical studies and commercialization. Haihe Biopharma has established a comprehensive R&D system and a robust pipeline of drug candidates. As of early 2019, its pipeline consisted of ten compounds in clinical testing and five in the preclinical stage. A key milestone was achieved in March 2023, when its product Gumarontinib (Haiyitan®) received approval from China's National Medical Products Administration (NMPA) for treating non-small cell lung cancer with MET exon 14 skipping mutations. Another product, Fespixon (ON101), was approved by the NMPA in November 2023 for treating diabetic foot ulcers. The company's lead product candidate, Liporaxel, is an oral formulation for cancer treatment. Its business strategy includes forming strategic partnerships, such as a joint venture with CSPC to co-develop and commercialize five of its projects.

Haihe Biopharma has secured significant funding to advance its pipeline. The company has raised a total of $333 million over three funding rounds. The first round occurred on February 11, 2019, raising $146.6 million in a Series A led by Huagai Capital, with participation from investors like Hillhouse Capital and Yingke PE. A Series B round in July 2020, led by Warburg Pincus, raised 1.2 billion yuan. The most recent funding was a $14.8 million Series B round on July 30, 2022, with Legend Capital as the lead investor. The company's IPO attempt in September 2021 was ultimately cancelled.