ShanghaiJune 5, 2026 /PRNewswire/ — On June 5, 2026, Beijing time, Tianchen Biotech, a portfolio company of Qiming Venture Partners and a leading innovator in China’s allergy and autoimmune disease field, successfully listed on the Hong Kong Stock Exchange, marking Qiming Venture Partners’ 7th IPO this year. Tianchen Biotech (01779.HK) had an issue price of HKD 96.06 per share, an opening price of HKD 144.30 per share, and a market capitalization of HKD 10.7 billion.
In 2024, Qiming Venture Partners led Tianchen Biotech’s Series B2 financing round, and later co-led its Series C financing round in 2025. Prior to the IPO, Qiming Venture Partners held 4.27% of Tianchen Biotech’s shares, making it one of the major institutional investors.
Founded in 2020, Tianchen Biotech primarily focuses on the independent discovery and development of biologic drugs targeting allergic and autoimmune diseases. The founding team of Tianchen Biotech boasts extensive industry experience, with outstanding performance in drug discovery, clinical development, and regulatory processes. Dr. Sun Naichao, co-founder of Tianchen Biotech, is the original inventor of Omalizumab and has deep expertise in the allergy field for decades, recognized as a “pioneering” scientist in allergy drug development. Dr. Liu Heng, co-founder, Chairman, and CEO of Tianchen Biotech, also has over 15 years of experience in biopharmaceutical R&D and commercialization, playing a key role in the domestic and international development of multiple drug projects.
Currently, Tianchen Biotech has built a comprehensive biologic product pipeline targeting rhinological, dermatological, respiratory, hematological, renal, and other autoimmune diseases. Among them, Tianchen Biotech’s core product, LP-003, is a novel anti-IgE antibody with a unique sequence design, primarily functioning to block free IgE in the blood and tissues, thereby inhibiting IgE-mediated allergic reactions. According to published top-line results, LP-003 demonstrates significantly superior efficacy compared to Omalizumab in treating chronic spontaneous urticaria (CSU). Additionally, Tianchen Biotech’s main product, LP-005, is a newly designed bifunctional antibody fusion protein targeting complement C5 and C3b, with global leading potential in disease pathology mechanisms, showing efficacy potential over single-target complement inhibitors.
Dr. Chen Kan, Partner and Co-Head of Healthcare Innovation at Qiming Venture Partners, stated: “In 2024, Omalizumab’s successful approval in the U.S. opened up commercial opportunities, while the prevalence of allergic diseases like allergic rhinitis, asthma, and chronic urticaria in China continues to rise. From the perspectives of clinical demand, technological barriers, team strength, and market inflection points, Qiming Venture Partners chose to invest in Tianchen Biotech. Tianchen Biotech’s successful listing marks a key milestone in its transition from the lab to commercialization, positioning it to become a leading company in China’s allergy disease field. Tianchen Biotech is also a source innovation invested by Qiming Venture Partners during the healthcare capital winter, reflecting Qiming’s resilience in navigating industry cycles and its independent judgment in project selection. Going forward, Qiming Venture Partners will continue to focus on addressing unmet clinical needs and pursuing cutting-edge healthcare innovation investments with global competitiveness.”
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners currently manages 11 U.S. dollar funds and 7 RMB funds, with total assets under management reaching USD 9.5 billion. Since its inception, it has focused on investing in outstanding early-stage and growth-stage companies in sectors such as Technology and Healthcare Innovation.
To date, Qiming Venture Partners has invested in over 580 high-growth innovative companies, of which more than 210 have been listed on the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Shanghai Stock Exchange, or Shenzhen Stock Exchange, or exited through mergers and acquisitions. Over 80 companies have become industry-recognized unicorns or super unicorns.
Many of Qiming Venture Partners’ portfolio companies have grown into the most influential players in their respective fields, including Xiaomi Group, Meituan, Bilibili, Zhihu, Roborock, Hesai Technology, UBTech, WeRide, HyperStrong, Insta360, Unisound, Biren Technology, Zhipu AI, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, HT Medical, Sanyou Medical, AmoyDx, Shenzhou Cell, Insilico Medicine, Haoma Medica, Yuanxin Technology, MediLink Therapeutics, Laekna Therapeutics, and StepFun.