Kunshan, Jiangsu Province-based RiboQuark Pharmaceutical Technology has raised around RMB45 million ($7.5 million) in series A financing, according to media reports.
Shanghai-based venture capital and private equity firm BVCF led the round.
SBI Incubation, a subsidiary of SBI Group of Japan, Kunshan Industrial Technology Research Institute Investment and Kunshan Hongtu Hi-tech Venture Capital Management also participated.
The company says it will use the proceeds to accelerate the clinical development of RiboQuark’s lead product, QPI-1007.
RiboQuark is a joint venture established by Suzhou Ribo Life Science and Quark Pharmaceuticals Inc. in 2012.
Founded in 2005, BVCF is focused on life sciences in China. The company is previously named Bio Veda China.