Forlong Biotechnology, a clinical-stage company specializing in cytokine therapies, has secured RMB 120 million, approximately USD 17.5 million, in a Series Pre-B financing round. The funding was co-led by an undisclosed fund and Fudan Capital, with participation from several other venture firms. These proceeds are earmarked to propel the company's lead drug candidates, FL115 and FL116, through crucial clinical development stages.
Investor Confidence in Cytokine Innovation
Fudan Capital expressed strong confidence in Forlong's leadership within the cytokine therapeutics field, citing its innovative technology platforms. The firm highlighted the Fbody® and Syntokine® platforms, which have been validated through collaborations with major pharmaceutical companies like Innovent and Henlius. This strategic backing underscores the perceived value and potential of Forlong's proprietary research and development capabilities in the market.
The lead asset, FL115, was specifically praised for demonstrating best-in-class potential during its Phase I clinical trials. Its progression into Phase II for bladder cancer signals a high probability of successful commercialization in the near future. Investors believe FL115 is positioned to become a new benchmark in tumor immunotherapy, particularly in the post-PD-1 treatment landscape.
Accelerating a Promising Clinical Pipeline
Since its last funding round in February 2023, Forlong has made significant strides by advancing FL115 into clinical trials. The IL-15 superagonist has been administered to 95 patients with advanced solid tumors, showing promising results and reinforcing its potential. This progress builds on a solid foundation of clinical data and supports the company's focused development strategy for this asset.
Beyond its lead candidate, the company has developed a robust portfolio of interleukin-18 (IL-18) variants. This includes FL116, a PD-1/IL-18 bispecific antibody that has shown potent tumor-killing efficacy in preclinical models. The compound also demonstrated a favorable safety profile in pilot toxicology studies, setting the stage for its entry into clinical trials.
Leadership's Vision for Future Growth
Dr. Dong Wei, CEO of Forlong Biotechnology, welcomed the new investors and thanked existing partners for their continued support. He stated that recent progress has validated the company's cytokine-based portfolio strategy and its efficient research and development capabilities. The new financing will strengthen operational readiness and accelerate the clinical momentum of its key programs toward late-stage development.
Co-founder Mr. En Ji reiterated the company's commitment to addressing significant unmet medical needs through original innovation. He emphasized that the funding will fast-track the core pipeline toward pivotal clinical stages for multiple indications. The company aims to advance FL115 into a Phase 3 study for bladder cancer and move both FL115 and FL116 into Phase 2a studies for solid tumors by 2027.
This successful Series Pre-B financing round marks a pivotal moment for Forlong Biotechnology, providing the necessary capital to advance its innovative pipeline. The investment reinforces confidence in the company's proprietary platforms and its potential to develop next-generation cytokine therapies. With a clear clinical roadmap, Forlong is well-positioned to bring safer and more effective treatments to cancer patients worldwide.