On December 1, 2025, Proviva Therapeutics announced the completion of the A+ round of financing of more than 30 million dollar. This round of financing was led by OrbiMed, the world's leading medical and health investment institution, and many famous head institutions followed suit, including Hankang Capital, Sequoia China and a world-renowned industrial fund. This round of financing will be mainly used to accelerate the global clinical development of its core product PTX-912, and promote the research and development of other preclinical innovation pipelines. Ennovation Venture Capital participated in the A round of financing of Proviva Therapeutics in February 2023, and the funds were used to support the IND declaration and clinical development of the pipeline.
 
Proviva Therapeutics is a clinical biotechnology company focusing on the new generation of anti-tumor immunotherapy. The highly innovative platforms independently developed by the company include "CROSSOVER" cytokine prodrug technology platform and "MUSICA" multifunctional effector cell activation technology platform. The product molecules developed based on these technical platforms are activated specifically in tumor microenvironment, and the key bottleneck problems such as high peripheral toxicity, low accuracy of functional activation at effector cell level and serious exhaustion of traditional therapies including cytokines or immune cell binders are effectively solved through overall product design. Proviva Therapeutics is committed to making substantial progress in tumor immunotherapy on a global scale with these breakthrough technologies.
 
The core product PTX-912: the first PD-1/IL-2 prodrug fusion protein in the world.
PTX-912 is the first fusion protein of PD-1 antibody and IL-2 prodrug independently developed by Proviva Therapeutics. Its molecular design is highly innovative in the following aspects: 1) Using IL-2 mutant which retains the binding ability of IL-2Rβγ and part of IL-2Rα, the systemic activity is shielded by prodrug structure, thus significantly reducing the peripheral toxicity; 2) The fused PD-1 antibody can not only provide immune checkpoint blocking function, but also deliver high affinity IL-2 released after protease activation in tumor microenvironment (TME) to tumor-specific T cells; 3) The activated IL-2 has a certain stimulating effect on tumor infiltrating NK cells, which provides a potential synergistic effect for enhancing the overall anti-tumor immune response.
 
PTX-912 is expected to significantly enhance the anti-tumor immune response and reduce the serious systemic toxicity of IL-2 drugs through the dual mechanisms of PD-1 blocking and TME selective IL-2 signaling pathway activation.
 
PTX-912 is in the phase I clinical climbing stage. Preliminary data show good safety and tolerance, and confirmed partial remission (cPR) has been observed in patients with non-small cell lung cancer (NSCLC), showing excellent initiative mechanism and clinical transformation potential.
 
Investor's viewpoint
Dr. David Wang, global partner and senior managing director of OrbiMed, said: "The innovative platform and pipeline layout of Proviva Therapeutics in the field of cytokine prodrugs are impressive. PTX-912, as the first bifunctional fusion prodrug in the world, is expected to solve the core bottleneck of IL-2 therapy by reducing peripheral toxicity and expanding treatment window. We look forward to working with the company to promote its global clinical development. "
 
Company development prospect
Dr. Zhou Hongxing, founder and CEO of Proviva Therapeutics, said: "I sincerely thank all investors for their patience and strong support in the past few years, and also thank the new investment institutions for their trust in the company team. This round of financing is an important milestone in the development of Proviva Therapeutics. We will give full play to the advantages of resources, redouble our efforts to solve the key problems of drug resistance and safety in the field of tumor immunotherapy, accelerate the clinical progress of PTX-912, and continuously expand the pipeline of more breakthrough new drugs, and strive to bring innovative therapies to patients around the world as soon as possible, while creating sustainable value returns for investors and company employees. "
 
In the future, the company will further expand the team size, accelerate the construction of clinical development and new drug discovery platforms, and actively explore opportunities for early cooperation and authorization. We expect more people with lofty ideals in early R&D, clinical development and business development to join Proviva Therapeutics, and jointly promote the strategic vision of "based in China and facing the world".
 
About Proviva Therapeutics 
Founded in 2019, Proviva Therapeutics is a clinical biotechnology company focusing on a new generation of tumor immunotherapy. Relying on the self-developed "CROSSOVER" prodrug platform, the company is committed to solving the long-standing peripheral toxicity problem of cytokine drugs. At the same time, combined with the continuous innovation technology system including the "MUSICA" multifunctional effector cell activation platform, we will build a globally competitive product pipeline and strive to solve the important clinical unmet needs in the field of tumor treatment.
 
PTX-912, the company's core product, has entered the clinical stage, and its related technologies have been granted a number of patents, showing its unique initiative mechanism and global development potential.