Furong Bio raises $30M to crack cytokine drug development

What's the deal? Suzhou Furong Biotechnology has raised US$27.5M in a Series B round. Fosun Health CapitalDealroom has a profile for this one. Try Dealroom → led the round, with Suzhou Cambricon, Suzhou Chenfeng, Changshu KaishengDealroom has a profile for this one. Try Dealroom →, DT CapitalDealroom has a profile for this one. Try Dealroom →, and GF XindeDealroom has a profile for this one. Try Dealroom → participating.

What's the endgame? Furong develops next-generation cytokine drugs. It has built four core technology platforms on an integrated synthetic immunology system, aiming to solve the challenge of turning cytokines into viable drugs.

The signal: Cytokines are potent immune-signalling proteins, but their toxicity and short half-life have long stalled their path to market. Backing from a syndicate of healthcare and strategic investors signals continued appetite for companies tackling that bottleneck.

Image credit: National Institutes of Health (NIH)