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- Lepu Bio
Lepu Bio Valuation, Funding & Investors
Lepu Bio is valued at $654M as of July 2019.
Last Lepu Bio valuation
$654M
Series A · Jul 2019
Last Lepu Bio funding round
$186M
Series B · Aug 2020
Cumulative funding Lepu Bio raised
$317M
across 2 funding rounds
Key investors in Lepu Bio
China Development Bank Capital
RiverHead Capital
SDIC Unity Capital
Shiyu Capital
Haitong Innovation Capital Management
Ping An Capital
About Lepu Bio
Lepu Bio is a Beijing-headquartered biopharmaceutical company that develops oncology therapeutics, including antibody-drug conjugates like the HER2-targeting LPB-001 in phase 1 trials, oncolytic viruses such as LPB-R1, a PD-1/VEGF bispecific antibody in phase 2, and CAR-T cell therapies. Part of the Lepu Medical group, it maintains R&D centers in Beijing and San Diego. The company listed on the Shanghai STAR Market in August 2023 under stock code 688008, raising over 1 billion RMB. Its pipeline spans 10 clinical-stage candidates targeting solid tumors like breast, lung, and gastric cancers.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$654M (Jul 2019)
Sectors
Lepu Bio Valuation
Lepu Bio is currently valued at $654M, based on its Series A in July 2019.
The $131M round was led by Shiyu Capital, with participation from China Development Bank Capital, Shareate, Lepu Medical and Sumin Investment.
Lepu Bio valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jul 2019 | Series A | $654M |
Lepu Bio Funding History
Lepu Bio has raised a total of $317M across 2 funding rounds.
Lepu Bio's first fundraising round was a $131M Series A in July 2019. The most recent completed round was a $186M Series B in August 2020.
Lepu Bio funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2020 | Series B | Ping An Capital (lead); RiverHead Capital (lead); Asset Management Association of China; State New Central Enterprises Operating Investment Fund; SDIC Unity Capital; Haitong Innovation Capital Management | $186M | - | Lepu Biopharma is an innovation-driven biopharmaceutical company headquartered in Shanghai, focusing on oncology therapeutics including antibody-drug conjugates (ADCs) like MRG003 and MRG002, oncolytic virus drugs, and immunotherapies such as HX008 and LP002, all at clinical or pre-clinical stages. The company develops tumor candidate drugs sold domestically and internationally, and went public via IPO on HKEX:2157 in February 2022. The company has around 8,812 employees, revenue per employee of 76,706, and operates with low returns like ROE 1.19% and ROIC 1.22%, reflecting its clinical-stage focus prior to IPO traction. |
| Jul 2019 | Series A | Shiyu Capital (lead); China Development Bank Capital; Shareate; Lepu Medical; Sumin Investment | $131M | $654M | Lepu Biopharma (also referred to as Lepu Bio or Lepu Biotech) is a Shanghai-based biopharmaceutical company specializing in immunotherapy and oncology products, including antibody drug conjugates (ADC), oncolytic virus drugs, and other tumor candidate drugs at clinical and pre-clinical stages. Its major pipeline assets include MRG003, MRG002, HX008, and LP002. In July 2019 (aligned with the approximate February 2019 date query), it raised approximately $131 million in a Series A financing round led by Shiyu Capital, with participation from investors including China Development Bank Capital, Lepu Medical, Shareate, and Sumin Investment, to support immunotherapy development. The company has since advanced its pipeline, with eight clinical-stage drug candidates as of later periods, including core products acquired through subsidiaries or in-licensed arrangements. Post-round developments include a 2021 acquisition of 30% equity in KYM Biosciences and further investments. It went public in February 2022, issuing H Shares on the Hong Kong Stock Exchange, raising net proceeds of approximately HK$810.42 million. Financial traction emerged later; in 2023, its product PUYOUHENG (Pucotenlimab Injection) generated sales revenue of RMB101 million in its first full commercialization year. Licensing deals, such as with AstraZeneca for CMG901, brought upfront payments and milestone potential up to US$1,125 million, with RMB124 million recognized as licensing income by December 31, 2023. |
Who has invested in Lepu Bio?
11 investors have backed Lepu Bio across its funding rounds, including China Development Bank Capital, RiverHead Capital, SDIC Unity Capital, Shiyu Capital, Haitong Innovation Capital Management and Ping An Capital.
Lead investors include Ping An Capital, RiverHead Capital and Shiyu Capital.
Lepu Bio Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Aug 2020 | ||
| 1 | Participant | Jul 2019 | ||
| 1 | Participant | Aug 2020 | ||
| -- | 1 | Participant | Aug 2020 | |
| 1 | Participant | Aug 2020 | ||
| 1 | Participant | Aug 2020 | ||
| 1 | Lead | Aug 2020 | ||
| 1 | Participant | Jul 2019 | ||
| 1 | Lead | Jul 2019 | ||
This data is available for Pro users. Sign up to see all 11 Lepu Bio investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by Lepu Bio
Lepu Bio has invested in 1 company to date.
Latest investment by Lepu Bio was on July 26th 2018. Lepu Bio invested in Binhui Biotech in their $16M Series A round.
Latest Investments by Lepu Bio
| Description | Binhui Biotech is a Wuhan-based biotechnology firm established in 2010 and located in Optics Valley Bio City within Donghu National Independent Innovation Demonstration Zone. The company develops oncology diagnostics and therapeutics with independent intellectual property rights competitive on global markets. |
| HQ Country | |
| HQ City | Wuhan |
| Deal Date | 26 Jul 2018 |
| Round | Series A |
| Raised | $16M |
| Investors | - |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Lepu Bio investments and their VC round multiples. Start Free Trial | |
Lepu Bio Competitors
Lepu Bio competitors include listed companies like Neurogene and OmniAb, and private ones like Endeavor BioMedicines, Expedition Therapeutics, MAXVAX and Shenzhen Luye.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $650M | - | ||
| Private | - | - | $650M | - | ||
| Publicly listed | - | ($99M) | $649M | - | ||
| Publicly listed | $19M | ($47M) | $646M | 20.2x | ||
| Private | - | - | $646M | - | ||
| Private | - | - | $667M | - |
Lepu Bio Public Comps
Lepu Bio is still privately-owned, but its public comps include Neurogene, OmniAb, Oneness Biotech, Senores Pharmaceuticals, Altimmune, Chong Kun Dang Pharma, Phathom Pharmaceuticals, Medigen Vaccine Biologics, Verastem and Valneva.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($99M) | - | - | (4.4x) | - | |||
| $19M | ($47M) | 32.8x | 20.2x | (13.0x) | (18.4x) | |||
| $4M | ($29M) | 127.4x | 138.1x | (17.7x) | (30.0x) | |||
| $64M | $21M | 10.9x | 8.8x | 33.3x | 30.6x | |||
| $41K | ($95M) | 8292.1x | 29102.1x | (3.6x) | (3.2x) | |||
| $1.2B | $92M | 0.6x | 0.5x | 7.7x | 8.2x | |||
| $175M | ($160M) | 3.5x | 2.2x | (3.8x) | (19.0x) | |||
| $19M | ($5M) | 31.0x | 26.0x | (118.5x) | (153.9x) | |||
This data is available for Pro users. Sign up to see all Lepu Bio competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Lepu Bio
| When was Lepu Bio founded? | Lepu Bio was founded in 2018. |
| Where is Lepu Bio headquartered? | Lepu Bio is headquartered in Shanghai, China. |
| Is Lepu Bio publicly listed? | No, Lepu Bio is a private, VC-backed company. |
| What is Lepu Bio's valuation? | Lepu Bio was last valued at $654M in its Series A in July 2019. |
| How much funding has Lepu Bio raised? | Lepu Bio has raised $317M across 2 funding rounds. |
| What was Lepu Bio's last funding round? | Lepu Bio's last funding round was a $186M Series B in August 2020, led by Ping An Capital and RiverHead Capital. |
| Who are Lepu Bio's investors? | Lepu Bio's investors include RiverHead Capital, China Development Bank Capital, Asset Management Association of China, State New Central Enterprises Operating Investment Fund, SDIC Unity Capital, Haitong Innovation Capital Management, Ping An Capital, Shareate, Shiyu Capital, Lepu Medical and 1 other. |
| Which companies are comparable to Lepu Bio? | Companies comparable to Lepu Bio include Endeavor BioMedicines, Expedition Therapeutics, Neurogene, OmniAb, MAXVAX and Shenzhen Luye. |
| How many companies has Lepu Bio invested in? | Lepu Bio has invested in 1 company, including Binhui Biotech. |
| What was Lepu Bio's last investment? | In July 2018, Lepu Bio invested in Binhui Biotech's $16M Series A. |
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