BioCentury
ARTICLE | Financial News

China's Hua Medicine raises $25M Series B

January 9, 2015 3:05 AM UTC

Hua Medicine Ltd. (Shanghai, China) raised $25 million in a series B round led by Ally Bridge Group. New investors included Frontline BioVentures and TF Capital. Existing investors Arch Venture Partners; Venrock; Fidelity; WuXi Venture Fund; and Shanghai Alliance Investment Ltd. also participated.

Hua plans to complete by YE15 a Phase II study in China of the small molecule glucokinase ( GCK; GK) activator Sinogliatin ( HMS5552) to treat Type II diabetes, and submit an IND to FDA this quarter for a U.S. Phase I trial of the compound. ...