On July 8, 2021, Conoaha Biopharmaceutical Technology (Chengdu) Co., Ltd. ("Conoaha," stock code: 2162.HK), a portfolio company of the sub-funds invested in by HanKang Capital and Eli Lilly Asia Fund—both backed by the mother fund managed by Yuanhe Chencun—was listed on the Hong Kong Stock Exchange.

Conoya is a biotechnology company primarily focused on independently developing innovative biotherapies in the fields of autoimmune diseases and cancer treatment. Leveraging its strong foundation in biomedical research, Conoya is dedicated to pioneering biopharmaceutical innovations, having established an integrated, in-house R&D platform spanning monoclonal antibodies, ADCs, and bispecific antibodies. The company currently has more than 10 drug candidates in various stages of development, with 5 already advancing into clinical trials. Conoya demonstrates exceptional foresight in selecting drug targets, and its clinical-stage candidates consistently rank among the top three—either domestically or globally—in their respective therapeutic areas.

Currently, Conoba's core products include CM310, which targets IL-4Rα; CM326, targeting TSLP; and CMG901, targeting Claudin18.2.

Our first core product, CM310, is a fully humanized antibody drug that specifically targets IL-4R to block the IL-4/IL-13 signaling pathway. Currently, this candidate is advancing into Phase 2 clinical trials for moderate-to-severe atopic dermatitis in adults, as well as chronic sinusitis with nasal polyps in adults. The first indication is expected to receive regulatory approval as early as 2024. Another key product, CM326, is a highly potent, humanized monoclonal antibody targeting thymic stromal lymphopoietin (TSLP), another promising therapeutic option for autoimmune diseases. Notably, CM326 is China’s first and the world’s third domestically developed TSLP-targeting antibody to secure clinical trial approval. Lastly, our flagship product CMG901 is an antibody-drug conjugate (ADC) designed to target Claudin18.2—a protein widely expressed in cancers such as gastric and pancreatic tumors, making it one of the most promising cutting-edge targets in current cancer therapies.

While diligently advancing its robust R&D pipeline at a rapid pace, Conua is actively pursuing external collaborations to drive the development and commercialization of its candidate drugs. To date, Conua Biologics has established close partnerships with several renowned pharmaceutical giants, including Lepu Biopharma, TianGuangShi Biologics, Nuocheng Jianhua, and Shiyao Group.

As a powerful biotechnology company, Conoya has garnered strong backing from several prominent investment firms. Prior to its IPO, Conoya’s shareholders included well-known institutions such as HanKang Capital, Eli Lilly Asia Fund, Lenovo Star, Hillhouse Capital, Boyu Capital, Sanzheng Health Investment, and Fengchuan Capital. Notably, HanKang Capital participated in Conoya Biologics’ Series A funding round in 2018 and continued to increase its stake in subsequent rounds. Meanwhile, Eli Lilly Asia Fund co-led Conoya’s Series B financing in 2019 and has since remained a steadfast supporter of the company’s growth—most recently joining this year’s Series C funding round. Additionally, Eli Lilly Asia Fund also served as one of the cornerstone investors for Conoya’s upcoming IPO.