CGeneTech Secures Over 100 Million RMB Series A+ Financing Led by Hongtai

Categories:Company News
Author:New Drug Founders Club
Origin:
Time of issue:2019-07-30
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(Summary description)[(China Suzhou, China, July 30, 2019) - CGeneTech (Suzhou, China) Co., Ltd. has received more than 100 million RMB Series A+ financing led by Hongtai Capital and followed by NCBI. This round of financing will be used to continue to advance the clinical trials of the new hypoglycemic drug Shenggliptin and the research progress of other innovative drug projects under development, while for rare disease drugs that have completed the consistency evaluation will be introduced to the market early next year].

CGeneTech Secures Over 100 Million RMB Series A+ Financing Led by Hongtai

(Summary description)[(China Suzhou, China, July 30, 2019) - CGeneTech (Suzhou, China) Co., Ltd. has received more than 100 million RMB Series A+ financing led by Hongtai Capital and followed by NCBI. This round of financing will be used to continue to advance the clinical trials of the new hypoglycemic drug Shenggliptin and the research progress of other innovative drug projects under development, while for rare disease drugs that have completed the consistency evaluation will be introduced to the market early next year].

Categories:Company News
Author:New Drug Founders Club
Origin:
Time of issue:2019-07-30
Views:0

[(China Suzhou, China, July 30, 2019) - CGeneTech (Suzhou, China) Co., Ltd. has received more than 100 million RMB Series A+ financing led by Hongtai Capital and followed by NCBI. This round of financing will be used to continue to advance the clinical trials of the new hypoglycemic drug Shenggliptin and the research progress of other innovative drug projects under development, while for rare disease drugs that have completed the consistency evaluation will be introduced to the market early next year].

Founded in 2010 by Dr. Qiang Yu and headquartered in Suzhou Industrial Park, CGeneTech Biopharma is dedicated to the development, manufacturing and sales of small molecule innovative drugs. The company's core product, Shengliptin, is a new DPP-4 inhibitor class hypoglycemic drug, which has completed Phase 1 clinical trials and is expected to be the best-in-class product, and has a reserve to develop new anti-cancer drugs.

The lead investor is Hongtai Capital Holdings, which was developed from Hongtai Fund, a unique and advantageous diversified investment holding company in China, co-founded by Mr. Yu Minhong, a famous entrepreneur, and Mr. Sheng Xitai, a veteran investment banker, in 2014. The investment team of Hongtai Medical believes that: CGeneTech has made short, medium, medium and long term layout in product line design, the founding team all have many years of experience in R&D, entrepreneurship and business operation in the pharmaceutical industry, the R&D and operation talents are well coordinated, the R&D fields have their own focus, and the team combination has significant advantages.

Dr. Qiang Yu, the founder of CGeneTech, said that as a drug development company combining innovation and generic, CGeneTech will continue to focus on the domestic diabetic population of over 100 million patients and continue to promote the Phase III clinical trial of Shengliptin, a new drug for lowering sugar, based on the excellent clinical results already achieved. In addition, for areas such as multiple sclerosis, which has been included in the national rare disease catalog but only expensive imported drugs from abroad, the company will bring to market the drugs that have completed the consistency evaluation early next year. At the same time, the company will continue to build new drug lines in diabetes and cancer, and simultaneously promote the development and production of generic drugs in rare diseases.

As a veteran pharmaceutical professional for many years, Dr. Yu Qiang said he would like to do his part to alleviate the suffering of patients and improve their quality of life. Although the road ahead is dangerous and full of divergent paths, under the framework of win-win cooperation, CGeneTech is confident that its future development will be faster than imagined. He said, "We would also like to thank all the staffs of CGeneTech, without their hard work and sweat, we would not have solid scientific research results; we thank all the investors for their trust and support, and we will grow together with them in the future. Precisely.

Outside the boat, the water and sky are united.

Listen to the tide of the river at night and sing.

The sails are breaking the waves, and the path is open.

Fearlessly, the road is long.

About CGeneTech

CGeneTech (Suzhou, China) Co., Ltd. was founded in 2010 by Dr. Qiang Yu, an expert from the National Major Talent Introduction Project, as a high-tech enterprise dedicated to the research, development, production and sales of small molecule innovative drugs. Since its establishment, the company has applied for several invention patents and has been granted 2 patents. Among them, Shenggliptin, a new class 1 hypoglycemic drug, has been successfully selected as one of the "Major New Drug Creation" projects in the 12th and 13th Five-Year Plan of China in 2012 and 2018, marking the project has been successfully included in the key support track of innovative drugs at the national level. The preclinical study showed that the main technical parameters and long-term benefits of Shengliptin are much better than those of its global counterpart, selegiline. The preclinical and recently completed clinical phase I studies have shown that the key technical parameters and long-term benefit of selegiline are significantly better than its global counterpart, selegiline.

In addition, the Company has leveraged its technical advantages to actively provide R&D services since 2014, reaching sales of tens of millions of dollars for several years, and has gained strategic initiative for corporate survival and development. The Company has obtained clinical approvals for 3 classes of drugs including asenapine maleate, teriflunomide, vortioxetine and belinostat. Among them, teriflunomide has completed the consistency evaluation and will be reported for production in the near future. The company continues to receive strong support and full affirmation from the local government and the state, and has obtained financial support and honors for several projects, and will continue to actively raise funds, providing solid financial security for the company's new drug development projects.

About Hongtai Capital

Hongtai Capital Holdings, developed from Hongtai Fund, is a unique and advantageous diversified investment holding company in China, which was co-founded by Mr. Yu Minhong, a famous entrepreneur, and Mr. Sheng Xitai, a senior investment banker, in 2014. Now, Hongtai Capital Holdings has established a comprehensive investment management platform for the whole life cycle, and its investment business covers angel/venture investment, private equity investment, mergers and acquisitions, master fund, financial market business, wealth management, international business, etc. It has also built industrial and ecological business sectors such as Hongtai Smart and Hongtai Cultural Travel. Hongtai Capital Holdings adheres to the principle of "Change? Create together, become a man? With the value of "Change, Create and Achieve" and the mission of "Make the world a better place by joining hands with outstanding entrepreneurs", Hongtai Capital Holdings is committed to becoming an innovation promoter and cross-border integrator.

About NCBI

Agricultural Bank of China, the manager's de facto controller, is one of the world's top integrated banks and one of the market leaders in China's banking industry, ranking 6th in the Top 1000 Global Banks at the end of 2017. The Yangtze River Delta city cluster, to which Suzhou and Wuxi, where the manager is located, has a GDP size of RMB 14.7 trillion in 2016, ranking first among the three international-level city clusters of Yangtze River Delta, Pearl River Delta and Beijing-Tianjin-Hebei. The Manager provides diversified and comprehensive services to its target customers by leveraging the comprehensive financial services functions of its parent bank covering investment banking, fund management, financial leasing and other fields. The Manager focuses on specific industries, clients, regions and services, and incorporates risk control throughout the investment process to pursue investment returns with high safety margins.

Previous: CGeneTech: The first domestic original DPP-4 inhibitor, Shengliptin, is "exempted from two into three"

Next: Focusing on Rare Diseases, CGeneTech Research Develops New Drug Expected to Bring Gospel to Patients with Multiple Sclerosis

Previous: CGeneTech: The first domestic original DPP-4 inhibitor, Shengliptin, is "exempted from two into three"

Next: Focusing on Rare Diseases, CGeneTech Research Develops New Drug Expected to Bring Gospel to Patients with Multiple Sclerosis

Shengshi Taike: Exchange 'One Promise, One Thousand Gold' for 'Dreams Come True'

Introduction: Adhere to our original aspiration, forge ahead, and let our dreams shine into reality. The rapid development of Suzhou Industrial Park is the result of generations of park residents' continuous efforts, and also embodies the strength of each enterprise's rooting and growth. Enterprises are witnesses, but also participants. In the park, one group after another of enterprises have run the "upward trend" with their own "hard skills", using abundant vitality as ink and strong resilience as pen, writing a wonderful chapter of "striving for thirty years and building dreams towards the future". On the occasion of 15 years of rooting in Suzhou Industrial Park, Shengshi Taike Biopharmaceutical Technology (Suzhou) Co., Ltd. has reached a major development milestone - the company's first independently developed Class 1 innovative drug, sitagliptin phosphate tablets, has been approved for listing in China. The founder and CEO of Shengshi Taike, Yu Qiang, wrote a poem with deep emotion: "The trees and trees are all singing in heaven, and the colors are shining in the hall. The morning sun shines on the clouds, and the prosperous era welcomes the sunrise The original intention of entrepreneurship and the passion for innovation are intertwined at this moment into a beautiful story of the "two-way rush" between the park and talents. The successful approval of sengliptin for listing is due to the entrepreneurial fertile ground of Suzhou and the park, as well as the strong support of many departments. It is also a way to repay the park's pro business services with our innovative drugs, "said Yu Qiang. Since settling in the park in 2010, Shengshi Taike has been based in Suzhou and has a global perspective, focusing on the research and production of small molecule innovative drugs. With an integrated drug research and development technology platform and diversified business vision, it has built a rich pipeline of innovative drugs covering areas such as blood sugar reduction, anti-cancer, and autoimmune。 Funds - the 'first pot of gold' that leverages innovation leverage In 2010, with rich scientific research and practical experience in the field of pharmaceutical research and development, Yu Qiang and partner Ding Juping established Shengshi Taike in Suzhou Biomedical Industry Park (BioBAY), committed to the research and industrialization of breakthrough small molecule innovative drugs for therapeutic purposes. "China is a big country with diabetes in the world, and the number of patients with diabetes is the first in the world. In 2008, I heard the news that China began to attach importance to the biomedical industry. Around 2010, I decided to bring my initial research and development achievements, raise funds, form a team, and return to China to make a new class of hypoglycemic drugs." Recalling more than a decade ago, Yu Qiang still remembers. The decision to return to China and start a business in the park was impressed by the numerous emails exchanged. At that time, I was still in the United States and consulted the park government about entrepreneurship issues through email. The response I received was not only fluent in English, but also highly professional. The fact has proven that my initial choice was the right one The beginning of everything is difficult. Even if the conditions for starting a business in China are relatively mature, for a new drug research and development company in the start-up stage, the challenges it faces can be imagined. Shortage of funds is the first problem. Fortunately, the park provides very strong financial support to leading talents, "said Yu Qiang. When he settled in 2010, the park could offer a" big gift package "of up to 10 million yuan to leading talents in the biopharmaceutical field, including housing subsidies, rent reductions, subsidized loans, start-up capital, etc. More importantly, the predecessor of Yuanhe Holdings, Zhongxin Venture Capital, gave us 6.5 million yuan in angel investment, which can be said to be a" timely help "for start-up companies. Later, the company's new drugs were successively shortlisted for the national "Twelfth Five Year Plan", "Thirteenth Five Year Plan" and "Major New Drug Creation" special projects, and were included in the national key support track, further obtaining financial support. The guidance fund and leading venture capital of the park's enterprise development service center have provided financing support at different stages of Shengshi Taike's development. With the guidance of government industry funds, they have also attracted more social capital to invest and jointly support enterprise innovation. I have always believed that it is the '1' given by the park that leads to the '0' increase in social capital in the future, "Yu Qiang said with a smile. Funds support the growth of enterprises and drive industrial development. At present, Shengshi Taike has built a rich drug pipeline, with product distribution fr

2025-01-07

Milestones | Shengshi Taike's new generation DPP-4 inhibitor approved for market launch

Today, the official website of the National Medical Products Administration (NMPA) of China announced that Shengshi Taike's independently developed Class 1 innovative drug, saxagliptin phosphate tablets (formerly known as saxagliptin phosphate tablets), has been approved for market in China. This is a new generation of highly selective DPP-4 inhibitor, which is suitable for improving the blood sugar control of adult type 2 diabetes patients. According to the Guidelines for the Prevention and Treatment of Type 2 diabetes in China, the prevalence of diabetes among adults in China has risen to 11.2%, of which more than 90% are type 2 diabetes. In order to meet the huge clinical demand, some new drugs with different mechanisms of action from traditional oral hypoglycemic drugs have emerged in recent years. Dipeptidyl peptidase-4 (DPP-4) inhibitors are one of them. They not only improve hyperglycemia, but also are not easy to induce hypoglycemia and weight gain. They have the characteristics of rapid oral absorption, long half-life, and long-lasting effect, and are known as "smart" hypoglycemic drugs. Currently, they have been recommended by many domestic and foreign guidelines. As a new generation of highly selective DPP-4 inhibitor independently developed by Shengshi Taike, sengliptin has been continuously selected for the national "Major New Drug Development" special projects in the 12th and 13th Five Year Plans. Due to the excellent data demonstrated in the first phase clinical trial of the best product in the market, it was exempted from phase 2 clinical trials and directly entered phase 3 clinical trials, pioneering the "exemption from two to three" clinical trials in the field of this drug. The results of the phase III clinical trial of Sengliptin led by Professor Ji Linong, director of the Endocrinology Department of Peking University People's Hospital and director of Peking University diabetes Center, showed that in the single drug treatment trial of Sengliptin, the reduction values of HbA1c in the 50mg and 100mg dose groups at the end of the 24th week were 1.08% and 1.07% respectively; In the treatment trial of sengliptin combined with metformin, the glycated hemoglobin decreased by 1.23% and 1.17% in the 50mg and 100mg dose groups at the end of the 24th week, respectively. Meanwhile, both sets of experimental data showed that patients with higher blood sugar levels experienced a greater decrease in glycated hemoglobin levels. In addition to its excellent hypoglycemic effect, what is even more commendable is that in the comparison between the 100mg dose group (high-dose group) and the placebo group in the last 28 weeks, the incidence of adverse reactions of sengliptin is similar to that of the placebo group, and its safety further solves the common adverse reactions in marketed products. At present, metformin combined with leptin has become the main treatment scheme in the clinical application of treating type 2 diabetes. According to Sullivan's research report, by 2030, the market size of leptin in China will exceed 30 billion, with broad market prospects. Ding Juping, the co-founder and president of Shengshi Tyco, said: "I am very glad to see the company's self-developed product, Sengliptin Phosphate Tablets, has been approved for listing. This drug will be the best new hypoglycemic drug of its kind with half the effort and twice the treatment effect. I hope it will benefit the majority of diabetes patients in China as soon as possible after it is approved for listing." Dr. Yu Qiang, the founder and CEO of Shengshi Tyco, said: "Sengliptin's successful approval for listing benefits from Suzhou and the park as a fertile land for entrepreneurship and the strong support of many departments. It is also a" promise of gold "to use our innovative drugs to repay the business friendly services in Suzhou Park. At this moment, I would like to use an original poem to bless this new drug for its successful launch." Morimu's sounds of nature are listed in the palace. The morning light shines on the clouds, and the prosperous world welcomes the sunrise.

2024-12-05