Nanjing Yingpai Pharmaceutical announced on August 3 that it has successfully completed the $30 million Series C financing, led by Decheng Capital, and Lilly Asia Fund to invest. This round of financing will be used to accelerate the potential of the best similar drugs. Clinical trial of the PARP inhibitor IMP4297, as well as other programs.
According to public information, Yingpai Pharmaceutical was established in June 2009 to develop best-in-class drugs with independent intellectual property rights for the treatment of major diseases such as cancer. Yingpai Pharmaceuticals is registered as a subsidiary of Shanghai Yipai Pharmaceutical and Australia Yingpai Pharmaceutical. Yingpai Pharmaceuticals builds a research and development platform with a DNA damage response (DDR) as its key target to build a unique product pipeline. In December 2015, Yingpai Pharmaceutical completed the B round of financing, which was jointly invested by Hualing Capital, Yuexiu Industry Fund, Yuansheng Venture Capital, Haibang Venture Capital and Lilly Asia Fund, raising nearly 10 million US dollars.
Its main product, PARP inhibitor IMP4297, is undergoing clinical trials in China and Australia. Preclinical data and clinical trial data show that IMP4297 may be clinically more effective than Olaparib and other marketed PARP inhibitors. Lower toxicity, it is expected to develop into the best similar drug for PARP inhibitors.
PARP inhibitors are specific and targeted drugs with defects in DNA repair mechanisms, especially those with BRCA mutations, which have proven to be safe and effective after extensive clinical trials. Three PARP inhibitors have been approved for marketing overseas. The clinical phase I data of Yingpai Pharmaceutical shows that IMP4297 has very good safety and good initial efficacy, which is consistent with the high efficacy and wide therapeutic window embodied in preclinical data.
Dr. Tian Ye, General Manager and Chief Scientific Officer of Yingpai Pharmaceuticals, said: “Yingpai Pharmaceuticals is based on science and team-oriented. After years of efforts, it has established a young, efficient and energetic new drug research and development team. Providing a steady stream of vitality and motivation for the company's vigorous development. The funds raised will be used to complete the clinical trial of IMP4297 and enrich the company's research and development pipeline. Decheng Capital is an internationally renowned investment company specializing in the biomedical industry. Their participation has made us more confident. The reciprocal investment of Eli Lilly Asia Fund is both affirmation of the company's achievements and optimistic about the company's prospects. We are grateful to the two well-known investment companies for their support to Yingpai Pharmaceuticals. And look forward to long-term cooperation in the future to jointly develop safer and more effective new drugs for cancer patients."
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