BlissBio Pharma announced the closing of over RMB 400 million in Series B financing. This round of financing was led by Hillhouse Capital, with participation from Cormorant Asset Management, VMS Group, and HeDa Investment. Existing shareholders Sherpa Healthcare Partners and Oriental Fortune Capital also continued their investment.

CEC Capital Group served as the exclusive financial advisor for BlissBio Pharma in this transaction.

The proceeds from this financing will be used to advance the international multi-center clinical research of the BB-1701 project, conduct preclinical research and registration application for other product lines, and establish the company's research and production base. BB-1701 is a novel antibody-drug conjugate (ADC) currently undergoing a joint Phase I clinical trial in China and the United States. Its toxin, Eribulin, is an approved anti-tumor small molecule drug imported from Japan, with clinically validated safety and efficacy. BlissBio Pharma holds global rights for the development and commercialization of this ADC. The company's second Eribulin ADC, the BB-1705 project, is expected to have simultaneous filings in China and the United States this year. Meanwhile, the company is actively advancing the research and development of several best-in-class and first-in-class potential products through its unique site-specific conjugation technology platform with independent intellectual property rights.