Hua raises $117.4M with listing in sight

Hua Medicine Ltd. (Shanghai, China) raised a total of $117.4 million on March 27 in its series D and E rounds. New investors included Blue Pool Capital, GIC Private, AVICT Global, 6 Dimensions Capital, Adrian Cheng via K11 Investments, Ping An Ventures and Mirae Asset Financial Group. Also participating were existing investors Arch Venture Partners, Eight Roads, F-Prime Capital Partners, Venrock, WuXi AppTec Corporate Ventures, Ally Bridge Group, Harvest Investments and co-founders and management.

Hua said it expects the funding will allow it to complete two Phase III trials of lead candidate dorzagliatin (HMS5552) to treat Type II diabetes, and launch the candidate in China. Hua has exclusive, worldwide rights to the glucokinase (GCK; GK) activator program from Roche (SIX:ROG; OTCQX:RHHBY) under a 2012 deal...