Rapafusyn's RapaGlue(TM) platform rapidly discovers non-degrading molecular glues,

     a validated and highly sought-after modality to address challenging or
                     previously undruggable disease targets
     Financing led by 3E Bioventures Capital and Proxima Ventures Ltd. with
                       participation from Lapam Capital

Founded by Professor Jun O. Liu of Johns Hopkins University School of Medicine,
a pioneer in the molecular glue field
BALTIMORE, June 20, 2024 (GLOBE NEWSWIRE) --
Rapafusyn Pharmaceuticals, a leader in the discovery and development of
therapeutic drugs based on non-degrading molecular glues, today announced the
initial closings of an extension of its Series A financing, bringing the total
round to $28 Million. The financing was led by 3E Bioventures Capital and
Proxima Ventures Ltd. with participation from Lapam Capital.
The financing will propel the progress of Rapafusyn's innovative and diverse
pipeline of macrocyclic peptide-based non-degrading molecular glues and further
enhance its internal capabilities. Rapafusyn's industry-leading libraries of
RapaGlues(TM) can swiftly produce novel chemical entities for targets that are
traditionally challenging or currently undruggable by other modalities. This
innovative breakthrough offers a promising solution for numerous difficult-to-
drug targets, paving the way for significant advancements in drug discovery and
development to address high unmet medical needs of patients.
"Non-degrading molecular glues were previously found serendipitously. The
RapaGlue(TM) platform has the ability to create non-degrading molecular glues by
design", said Dr. Jun O. Liu, scientific founder of Rapafusyn and a pioneer
whose ground-breaking discovery of the molecular glue mechanism for FK506 and
cyclosporin A at Harvard University with Professor Stuart Schreiber and
colleagues in 1991 formed the foundation of the field of non-degrading molecular
glues.
"Our RapaGlue(TM) platform is primed to bring groundbreaking therapies to patients.
This innovative non-degrading molecular glue modality integrates the benefits of
molecular glues with cyclic peptides, creating cell-permeable drug candidates.
Our robust platform allows us to tackle disease targets where other modalities
have struggled." Dr. Sean Hu, CEO of Rapafusyn, commented. "We are very pleased
to have such distinguished investors participate in this round of financing."
"Rapafusyn offers a new class of macrocyclic molecules that function as non-
degrading molecular glues. It can target a broad range of membrane or
intracellular targets, including those traditionally difficult-to-drug, such as
PPIs (protein-protein interaction targets), transcriptions factors,
SLCs/transporters, ion channels and others", said Dr. Karen Liu, a Founding
Partner at 3E Bioventures. "I am excited about the platform, because for the
first time in drug discovery, we have a systematic and efficient way to screen
for small molecule modulators beyond the traditional Lipinski rules and protein
degraders popular in recent years."
Haolin Sung, Partner at Proxima Ventures commented, "We are very attracted by
and delighted to invest in Rapafusyn's non-degrading molecular glue platform. It
is well differentiated and, in many ways, superior to other drug modalities in
addressing challenging or undruggable disease targets. We are also impressed by
the caliber of the Rapafusyn operating and advisory teams and are confident in
the future success of the company."
Mr. Zhihua Yu, Founding Managing Parter of Lapam Capital added, "By applying an
innovative and well validated approach to effectively drug a broad spectrum of
challenging or undruggable disease targets, Rapafusyn has the potential to
address a major gap and unmet need in the pharma industry. We believe in
Rapafusyn's potential to discover transformational medicines to benefit patients
globally."
About 3E Bioventures
3E Bioventures Capital is a life science focused VC fund, actively investing in
global leading health innovators, investing in Biotech (new drugs, new
modalities, and drug discovery platforms) and in TechBio, the intersection of
biology and technology that can potentially disrupt old paradigms. 3E
Bioventures takes on a science-driven, entrepreneur-friendly investment
philosophy by working closely with companies and research institutions to
develop drugs or products that have strong unmet medical needs.
About Proxima Ventures
Proxima Ventures is a respected VC fund focused on investing in innovative and
disruptive medical and bio- technologies, dedicated to serving outstanding and
innovative companies with tremendous potential for growth. Proxima Ventures is
run by a highly experienced team with proven track record in the life science
industries. The team has broad global knowledge, in-depth experience, and an
extensive industry network. Currently, Proxima has multiple Chinese Yuan (RMB)
and USD funds under its management, investing in angel to growth stage
companies. Proxima Ventures has established a leading medical entrepreneurship
ecosystem, helped its portfolio companies connect with high-quality clinical and
industrial resources, and achieved remarkable results.
About Lapam Capital
Headquartered in Beijing, Lapam Capital is a leading healthcare venture capital
firm in China. Lapam is currently managing five RMB (Chinese Yuan) funds and one
USD fund, with more than 10 billion RMB under management. Lapam Capital focuses
on investments in early to mid- stage fast-growing companies that have
innovative pharmaceuticals and medical devices. Its investment portfolio
currently consists of 120+ projects, of which innovative drug therapeutics
projects account for over 80%, including Betta Pharma, RemeGen Co. Ltd., Gyre
Therapeutics, Asieris Pharmaceuticals, ImmuneOnco Biopharmaceuticals, Binhui
Biotech, Biostar Pharmaceuticals, Eyebright Medical Technology Ltd., and many
other companies with great potential. Lapam Capital has a professional
investment team with more than 20 years of international and domestic
biopharmaceutical industry R&D and management experience and can provide
comprehensive value-added support for the invested companies.
About Rapafusyn Pharmaceuticals
Rapafusyn emerged from the laboratory of Dr. Jun O. Liu's, Professor of
Pharmacology and Molecular Sciences at Johns Hopkins University, with a mission
to develop transformational medicines to address high unmet medical needs and
enhance patient care. The platform leverages non-degrading macrocyclic
molecular glues (RapaGlues(TM)) to address challenging therapeutic targets.
Rapafusyn has constructed both DNA-encoded libraries (DELs) and arrayed
libraries of RapaGlues(TM) that form neo-PPIs to inhibit a protein from its native
activity. These compounds are rationally designed and engineered to bind FKBP
and form a ternary complex with the disease target protein, offering a promising
avenue for modulating intricate protein-protein interactions. RapaGlues(TM) have proven effective in producing innovative chemical starting points for
challenging drug targets. The modular architecture enables SAR and subsequent
optimization for potency, selectivity, and physicochemical properties to
accelerate drug discovery and development. RapaGlues(TM) frequently exhibit cell
permeability directly from the starting point, enhancing their potential for
therapeutic development.
For more information, please visit rapafusyn.com or contact Heather Lavin:
hlavin@rapafusyn.com (mailto:hlavin@rapafusyn.com)
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