HighTide Therapeutics Raises Tens of Millions of Yuan in B+ Round

Recently HighTide Therapeutics has Closed its B+ round of financing. This round of financing was jointly invested by Jiatai New Century Biomedical Fund, Shenzhen Dawan District Common Home Investment, New Medicine Fund, Citic Securities, Cowin Capital, Winscapital, Hunt Zest Investment, and Brill Capital; existing shareholder Blue Ocean Capital continued to invest.

HighTide Therapeutics Inc. is dedicated to the development of innovative therapeutics for people suffering from non-viral chronic liver diseases, gastrointestinal diseases and metabolic disorders with large and unmet medical needs. HTD1801 is a new molecular entity being developed for the treatment of NASH, PSC and PBC. HTD1801 has received Fast Track designation from the U.S. FDA for both NASH and PSC, as well as Orphan Drug designation for PSC.

HighTide Therapeutics focuses on the major clinical needs that urgently need to be met in the fields of chronic liver disease, gastrointestinal disease and metabolism, and simultaneously develops "First-in-Class" innovative drugs globally. The company has won 2 China’s “Thirteenth Five-Year New Drug Development Major Projects” and was awarded 2 FTD (Fast Review Channel Qualifications) and 1 ODD (Orphan Drug Qualifications) by the FDA (U.S. Food and Drug Administration). Accelerate drug approval to benefit patients worldwide.

Professor Zhu Xun, Chairman of the Investment Committee of the Jiatai Fund, said: "We are very optimistic about HighTide Therapeutics' focus on the treatment of digestive system and metabolic diseases. The unremitting exploration of disease mechanisms, diagnosis and treatment standards, intervention methods, and approval paths is now on the eve of the outbreak. Once a drug is approved for the market, doctor-patient education, market awareness and penetration will rapidly increase. NASH not only has tens of billions of dollars. It has a huge market capacity and will become one of the fastest-growing areas of many chronic diseases in the future, and it is a battleground for the strategists of major international pharmaceutical companies.

Looking at the global competing products for chronic liver disease, HighTide Therapeutics' HTD1801 compound has a scientific design concept and has demonstrated good efficacy and safety in international multi-center clinical phase II trials. For a variety of chronic liver diseases that require long-term medication, this not only means significant clinical benefits and patient compliance, but also brings opportunities for the subsequent development of new indications and basic medication as a combination medication, which indicates a significant Clinical value and commercialization potential.