April 22nd news, China Pharmaceutical announced the completion of $50 million C round of financing. This round of financing by the harvest investment partners, and capital investment, Huaxing capital acted as exclusive financial advisor.
it is reported that this round of financing will be used in phase II clinical trials support the company completed this year for the treatment of type 2 diabetes type fourth generation innovation glucokinase activator —HMS5552, phase III clinical studies into the development of accelerated, while promoting other drugs and technology products in the pipeline project.
Hua Ling medicine CEO Chen Li said, we are very pleased to see China capital market for the new global 1 kinds of chemical drugs HMS5552 clinical research results and future great potential in the treatment of more than 400 million patients with diabetes worldwide. Chinese medicine will, as always, for China and the world as soon as possible for patients with good medicine.
Castrol investment CEO Qiu Ogawa believes that HMS5552 is a regulator of glucokinase activity class of diabetes drugs in the original world, China first listed, with new diabetes drugs mechanism of action, the world’s first drug. The Chinese medicine innovation, high quality and international leading qualities, with harvest investment philosophy is the main reason for the harvest to support the company’s development.
Hua Ling medicine is a China oriented and global market focus on the world’s first and best therapy drug development company, and in September 2015 launched a phase II clinical trial of China multi center, for a period of 12 weeks, according to the diabetes patient’s HMS5552, and plans to the end of 2016 the main results announced.