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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