BioCentury
ARTICLE | Financial News

Hua Medicine closes series C round

April 22, 2016 11:44 PM UTC

Hua Medicine Ltd. (Shanghai, China) raised about $50 million in a series C round led by Chinese private equity firm Harvest Investments. Existing investors Frontline BioVentures, Arch Venture Partners, Venrock, Eight Roads, F-Prime Capital, WuXi Venture Fund, Shanghai Alliance Investment Ltd., Ally Bridge Group and TF Capital also participated in the round, which included investments in both U.S. dollars and Renminbi.

Hua expects data by YE16 from a Chinese Phase II trial of HMS5552 to treat Type II diabetes. The company in-licensed the small molecule glucokinase ( GCK; GK) activator and other backup compounds from Roche (SIX:ROG; OTCQX:RHHBY) in 2012. ...