Zean Biopharmaceutical completes a $38 million financing.

On the evening of May 6th, Ze An Biomedical announced the completion of a $38 million financing. This round of financing was led by Hillhouse Ventures; a large international sovereign wealth fund also participated. Several existing shareholders made additional investments, including a global pharmaceutical giant, Bo Yu Ventures, Wuyuan Capital, Blue Chi Ventures, Duxiu Capital, and Shunwei Capital. Ze An will use the funds raised in this round to accelerate the development of the "Marrow Stem Cell Connector" immunotherapy pipeline, especially focusing on the core product LTZ-301 for tumors and autoimmune diseases; at the same time, they will advance the new drug clinical trial application and Phase I clinical trial initiation of the second candidate drug LTZ-232.