Beijing - May 24, 2024, Pyrotech (Beijing) Biotechnology Co., Ltd (hereinafter referred to as " Pyrotech Therapeutics"), which is committed to developing revolutionary innovative drugs for the treatment of inflammation and tumors, announced that it has recently completed a Series A+ financing round of several hundred million RMB.
This round of financing was led by the Beijing Pharmaceutical Health Industry Investment Fund, with Baheal Great Health Innovation Investment Fund following the investment. Existing investors including FreeS Fund, Taiping Innovation Capital, LAV, China Venture Capital Innovation Investment Fund, Greenwaters Fund, and LSV Capital continued to add investments. The funds raised from this round will be used to support the clinical research of the ALPK1 small molecule agonist PTT-936, as well as the clinical advancement of innate immune inhibitors and pyroptosis inhibitors, accelerate the research progress of multiple preclinical projects, and further expand the R&D pipeline to aid the development of Beijing's pharmaceutical health industry.
Pyrotech Therapeutics was co-founded by Dr. Feng Shao and Dr. Tianjing Deng. The scientific foundation is based on Dr. Feng Shao's globally leading biological discoveries in the fields of innate immunity and pyroptosis. The company focuses on key medical issues in the fields of inflammation and tumors that have not yet been conquered, and is committed to developing revolutionary innovative drugs for the treatment of inflammation and tumors. It aspires to become a globally leading Chinese biotech company based on the scientific discoveries of Chinese scientists, driven by original innovation, and to bring China's original innovation achievements to global patients with inflammation and tumors.
Pyrotech Therapeutics has established a group company structure, with Beijing as the headquarter and the center for the development of small molecule immune modulators, Shanghai as the center for the development of bio-immune modulators, and the United States as the center for business development and clinical trials. Pyrotech Therapeutics is currently the most cutting-edge scientific platform company in the field of innate immunity. By developing small molecules and biomolecules targeting several new targets related to inflammasomes or pyroptosis, it can upregulate or downregulate the body's inflammatory response levels, providing new possibilities for the treatment of immune over-activation diseases such as cytokine storm, inflammatory bowel disease, and sepsis. In addition, it can also cause tumor cells to undergo pyroptosis, recruit and activate immune cells, and enhance the immune cells' recognition of tumor cells to kill them, thus solving the current problem of low response rates in tumor immunotherapy. The company currently has ten R&D projects with brand new mechanisms and targets, all of which are globally pioneering, and several projects have made breakthrough progress. Among them, the ALPK1 agonist PTT-936 was approved by the FDA in November 2023 and has started clinical research in the United States; several innate immune inhibitors and pyroptosis inhibitors have determined the PCC and are conducting preclinical research and development.
