Chi­nese Alzheimer's drug­mak­er says lack of fund­ing, Covid out­break forced it to shut­ter in­ter­na­tion­al PhI­II

Green Val­ley Phar­ma, the Shang­hai drug­mak­er that scored a stun­ning ap­proval to mar­ket an Alzheimer’s drug in Chi­na two years ago, has shut­tered a Phase III tri­al that would’ve paved its way to the FDA.

A lack of fund­ing had forced its hand, ac­cord­ing to the biotech, which said its com­mer­cial sales had with­ered amid a new Covid-19 out­break in Chi­na. It tried to raise ad­di­tion­al fi­nanc­ing but was un­able to due to “geopo­lit­i­cal cir­cum­stances and a chilly cap­i­tal mar­ket for bio­med­ical in­vest­ments.”

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