NEW YORK – Drug development firm ChomiX Biotech said Monday that it has raised multiple millions of dollars in financing.
The Nanjing, China-based company said it will use the funds to further develop its chemoproteomics platforms, expand its covalent compound libraries, and start screening projects against several traditionally undruggable targets.
Investors in the round included TigerYeah Capital, Tsinghua Innovation Ventures, and Morning Spring Venture.
According to ChomiX, its DIA-ABPP chemoproteomics platform allows for drug screening experiments in living cells, enabling the discovery of new binding pockets and ligands for endogenous proteins. The platform covers more than 10,000 proteins and 40,000 binding sites.
Its TED-ChomiX platform identifies interactions between proteins and biologically active molecules in disease-related cells or tissues, aiding in mechanism-of-action studies and off-target profiling.
"This financing, along with a series pre-A announced last year, will significantly strengthen our capacity," Nan Chen, CEO and cofounder of ChomiX, said in a statement. "By leveraging these cutting-edge chemical proteomics technologies, we could provide more solutions for undruggable targets, which will contribute to the development of more drugs that benefit patients."