Elpiscience Biopharmaceuticals

Elpiscience Biopharmaceuticals is a clinical-stage biopharmaceutical company, established in 2017 by co-founders Dr. Darren Ji and Dr. Hongtao Lu, which focuses on developing immunotherapies for cancer and autoimmune diseases. The company was incubated by Lilly Asia Ventures (LAV), where Dr. Ji was a Venture Partner. Dr. Ji, the Chairman and CEO, brings a background in medicine, a Ph.D. from the University of Sheffield, an MBA from the University of Chicago, and extensive experience in R&D and business development at companies like Roche and Procter & Gamble. Dr. Hongtao Lu, the Chief Scientific Officer, is an immunologist with over two decades of industry experience at Zai Lab, GlaxoSmithKline, and Bayer Schering Pharma, holding a Ph.D. from the Cleveland Clinic Foundation and having completed a post-doctoral fellowship at Yale University.

The firm's core business revolves around the discovery and development of a pipeline of biologic drug candidates. Elpiscience's strategy is to address immunosuppressive mechanisms within the tumor microenvironment, specifically targeting the adenosine pathway and myeloid checkpoints. A key component of its technology is the proprietary Bispecific Macrophage Engager (BiME®) platform, which engineers antibodies to connect and activate macrophages to attack solid tumors without inducing cytokine storms. The company's business model involves advancing its proprietary and in-licensed drug candidates through clinical trials to eventually achieve commercialization. This dual-track approach includes in-licensing assets for the Chinese market while driving its own pipeline in global markets like the U.S. Revenue generation is anticipated through drug sales, and strategic partnerships and licensing agreements with other pharmaceutical companies.

Since its founding, Elpiscience has secured significant funding to advance its research and development programs. The company raised $13.3M in a Series A round in October 2017, followed by a $35M Series A+ in September 2018. It continued its fundraising momentum with a $100M Series B in December 2019 and a $105M Series C in May 2021, bringing total funding to over $250M from a consortium of investors including Lilly Asia Ventures, Hillhouse Capital, and Greater Bay Area Homeland Development Fund. These funds are utilized to advance its pipeline, with several assets currently in clinical trials and others in the IND-enabling stage. The company has also announced its intention for an Initial Public Offering (IPO).

Keywords: immuno-oncology, biopharmaceutical, clinical-stage, cancer therapy, tumor microenvironment, myeloid checkpoints, adenosine pathway, Bispecific Macrophage Engager, BiME, biologics, drug development, oncology, autoimmune diseases, antibody therapeutics, macrophage activation, solid tumors, Darren Ji, Hongtao Lu, ES104, ES002