China-based Pleryon Therapeutics has completed the first close of its Series A funding round, raising tens of millions of RMB led by EFung Capital. The funds will advance clinical development of its lead candidates P001X for osteoarthritis and P002 for dry eye syndrome, with overseas trials planned for 2026. P001X, a first-in-class synthetic polymer mimicking lubricin, aims to address the unmet need in osteoarthritis affecting over 500 million patients globally, while P002 offers a novel lubrication-based approach for dry eye, a condition impacting 300 million people worldwide.

The company boasts a polymer engineering platform and global collaboration network with contract development and manufacturing organisations (CDMOs) and contract research organisations (CROs). EFung Capital partner Kaifeng Wang praised Pleryon's differentiated technology and international strategy, noting its potential to revolutionise treatment paradigms in these high-burden therapeutic areas.

According to PharmCube's MedAlpha® database, over 500 financing events involving osteoarthritis assets have taken place to date, including 19 this year. Click here to request a free trial for MedAlpha®.