LTZ Therapeutics – an immunotherapy-focused biotech company – today announced it has raised over $10 million in pre-A+ financing led by Qiming Venture Partners. The closing of this round brings LTZ's total funding to approximately $30 million since the company was founded in 2022. The proceeds from this round of funding will be used to continue establishing the company's platform and pipeline and building LTZ's global operations team.
"LTZ has made significant progress, both scientifically and operationally, since it was established last year," said Robert Li Ph.D, Co-Founder and CEO of LTZ. "We plan to capitalize on our progress by advancing the company's lead molecule to its FIH clinical trial in early 2024, completing preclinical validation work of our innate engager platform and continuing to advance other molecules in the company's portfolio and build our global team. Furthermore,we're grateful for our scientific team and advisory board as well as the support from our syndicate of investors who acknowledge the exceptional value of our platform and pipeline."
With the addition of three new members, there is now a total of six scientific board members. Joining Sarah Hymowitz Ph.D, Greg Cosma Ph.D and Lukas Amler Ph.D, new members include Lillian L Siu, MD, Stephen Beers Ph.D and Hiroyoshi Nishikawa, MD, Ph.D.
"LTZ's strategy to develop a novel Innate Engager Platform for both hematological malignancy and solid tumors as well as its preclinical validation work of selected constructs is extremely promising. This approach could have profound impact on the future of immunotherapy development in China and globally," said Kan Chen Ph.D, Partner at Qiming Venture Partners.
Additionally, external research collaborations with top-tier cancer hospitals have also been established to support the company's reverse translational studies – to better understand the cancer biology and immunology in tumor microenvironment.
This financing was led by Qiming Venture Partners, with co-investor participation from Shunwei Capital, Lihehongxin Venture Capital Partnership and K2 Venture Partners.