XWPharma, formerly known as XW Laboratories (“XWPharma” or the “Company”), a research and development company focused on the development of innovative drugs for the treatment of central nervous system diseases, has recently announced the completion of its USD 40 million Series C financing round. This round of financing was led by Panacea Ventures. Other participants included CDIB Capital Group, Orient Hontai, and Trinity Innovation Fund. Existing investors Johnson & Johnson Development Corporation (JJDC), WI Harper Group, WuXi AppTec, and KTB Network also participated in the round.

Proceeds from this round of financing will be used for the clinical development of two lead projects in the Company’s pipeline, XW10172 and XW10508. XW10172 is a GABAB receptor agonist used to treat sleep disorders caused by narcolepsy and neurodegenerative diseases (such as Parkinson’s disease). XW10508 is a clinical application based on glutamate NMDA receptor antagonism and AMPA receptor activation. The compound will be used to treat major depression and chronic pain diseases.

XWPharma has also announced the appointment of Leonard Blum as the Company’s president and CEO. Dr. Xiang Jianing, the former CEO, founder and chairman of XWPharma, will serve as the firm’s chief scientific officer and will continue to be responsible for the Company’s operations in Asia.

Blum has more than 30 years of experience at international biopharmaceutical companies. Before joining XWPharma, Blum served as the Chief Commercial Officer at Omeros Corporation, Theravance, Inc., and ICOS Corporation (later acquired by Eli Lilly and Company). Previously, he served in roles of increasing responsibility at Merck & Co., Inc. In these roles, Mr. Blum designed and built commercial organizations in the U.S. and abroad, had national and global responsibilities in the development, regulatory approval, partnering, sales and marketing of over 20 pharmaceutical brands, and led multiple blockbuster drug launches across a broad array of therapeutic categories. In particular, his work on the launch and life cycle planning and development of CIALIS? is the subject of two Harvard Business School case studies. Mr. Blum received his A.B. from Princeton University magna cum laude and an M.B.A. from Stanford Graduate School of Business. He was a Fulbright Fellow at the University of Zurich.

About XWPharma

XWPharma (formerly XW Laboratories) is a biopharmaceutical company dedicated to the discovery and development of therapeutics that apply novel platform chemistry to time-regulated neurobiology. XWPharma’s expertise in drug design is focused on providing potential first- and best-in-class medicines with differentiated features to address the unmet medical needs of patients suffering from debilitating neurological diseases. XW10172 is a clinical-stage, GABAB agonist in development as an investigational once-nightly therapy intended to regulate the patient’s sleep cycle in order to alleviate excessive daytime sleepiness and other consequences of sleep dysfunction associated with neurodegenerative diseases, including Parkinson’s disease, and narcolepsy. XW10508 is a glutamatergic NMDA antagonist and AMPA activator in development as an oral, once-daily therapy with potential abuse deterrent properties designed for the treatment of major depressive disorder and chronic pain. 

About CEC Capital Group

Founded in 2000, CEC Capital Group is one of China’s leading investment banks focusing on the three major industries of healthcare, consumer, and TMT. The company is headquartered in Beijing, with offices in Shanghai. Its US affiliate, China eCapital Partners, LLC, has offices in Los Angeles and San Francisco.

In the three years from 2017 to 2019, CEC Capital Group has participated in financing and M&A transactions valued at a total of more than RMB 100 billion. In addition to its investment banking business, CEC Capital Group has been managing an RMB fund and a USD fund since 2014.

CEC Capital Group has the healthcare industry’s largest dedicated investment banking coverage team in China, with comprehensive coverage of the entire ecosystem and a market-leading position in the industry. The firm has advised on the largest number of healthcare-related private capital financing transactions over the past three years among China-based investment banks.