Eccogene nabs $25M Series B for GLP-1 and a NASH drug candidate, as competitors lap the China biotech
An early-stage China biotech hopes to break into the GLP-1 race for obesity and diabetes as heavyweights dominate the field, with Novo Nordisk already touting Phase III data on its oral GLP-1 and Eli Lilly and Pfizer nearing their big days.
Shanghai- and Boston-based Eccogene said Monday it has raised about $25 million, or CNY 180 million, in Series B financing as it moves through a Phase I study of its small molecule GLP-1 receptor agonist and takes its NASH and lipid disorders drug candidate through early-stage testing as well.
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