Beijing QL Biopharmaceutical Co., Ltd. has raised nearly RMB 300 million (USD 44.7 million) in a Series C+ financing round led by Cathay Capital, with participation from Huatai Zijin Investment and existing investors Tencent and Lichen Investments.edited E1 The metabolic disease-focused company said the funding will support commercialization and global development of a pipeline centered on ultra-long-acting, oral, and multi-target therapies.edited E1
QL Biopharmaceutical has proprietary peptide and protein drug technology platforms. Its lead candidate, zovaglutide (ZT002), is a GLP-1 receptor agonist peptide being developed as a once-monthly subcutaneous injection for overweight or obesity. The molecule entered Phase III development in January 2026, while earlier development showed the molecule produced a reduction of approximately 13.8% in body weight at 24 week, with assessment still under way.
The reported reduction of approximately 13.8% in body weight at 24 weeks had not reached a plateau at that assessment. QL's pipeline also includes ZT003, a GLP-1/FGF21 dual agonist fusion peptide for MASH, obesity, and diabetes, which entered Phase I trials in the US and Australia in 2025, and ZT006 an oral GLP-1 receptor agonist intended for obesity and type 2 diabetes and formulated as a once-daily oral peptide. The molecule completed a Phase I study in June 2025, with Phase II development planned for weight management in China.
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