Shanghai drugmaker Hua hauls in $117M megaround, with plans for hefty Hong Kong IPO
A diabetes drugmaker recently rumored to be planning a massive Hong Kong IPO has raised a $117 million mega-round with backing from some of the biggest investors in both China and the US.
Hua Medicine said the new influx of cash would take the company’s lead drug candidate all the way through Phase III trials and through commercial launch in China.
The company’s lead drug, dorzagliatin, helps type 2 diabetes patients by working on an enzyme that acts as a “glucose sensor,” regulating the body’s carbohydrate metabolism. The oral medicine, a fourth generation glucokinase activator, essentially treats the impaired blood glucose function, thereby addressing the underlying cause of type 2 diabetes.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
