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| Home : Hua Medicine Raises $25 Million in Series B Financing to Start Phase 2 Trials |
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Jan 09
2015 |
Hua Medicine Raises $25 Million in Series B Financing to Start Phase 2 Trials |
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SHANGHAI, CHINA and SAN FRANCISCO, CA--(Marketwired - January 08, 2015) - Hua Medicine Ltd., an innovative, clinical-stage biotechnology company in Shanghai, announced the closing of a $25 million Series B financing. The company is developing both best- and first-in-class therapies for the China and worldwide markets. The Series B financing was led by Ally Bridge Group, joined by additional new investors Frontline BioVentures, and TF Capital as well as existing Series A investors ARCH, Venrock, Fidelity, WuXi Ventures, and SAIL. The funds will enable Hua to catalyze the Phase 2 clinical development of its most advanced asset HMS5552 (Sinogliatin), a novel 4th-generation glucokinase activator (GKA) for Type 2 diabetes, and to move forward additional novel assets in its pipeline. |
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| Source:http://www.marketwired.com/mw/release.do?id=1981423&sourceType=3 |
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