HighTide Therapeutics Secures Tens of Millions in Series B+ Financing to Advance Global Phase II/III Clinical Development of Novel Drug HTD1801 Across Multiple Indications

VCBeat (WeChat ID: vcbeat) has learned that on December 8, 2020, HighTide Therapeutics Inc. (“HighTide”) announced the completion of a Series B+ financing round amounting to tens of millions of U.S. dollars. The round was co-led by Jiatai New Century Biomedical Fund (“Jiatai Fund”), Greater Bay Area Co-Home Development Fund (“Greater Bay Area Fund”), and Tigermed (300347.SZ/3347.HK). Other participants included CITIC Securities, CO-WIN Ventures, Winscapital Asset Management, Hengzhi Investment, and Borui Capital. Existing shareholder Blue Ocean Capital Group also made an additional investment.

The proceeds from this financing round will be used to accelerate the global Phase II and Phase III clinical development of HTD1801 for indications including primary sclerosing cholangitis (PSC), non-alcoholic steatohepatitis (NASH), and primary biliary cholangitis (PBC), as well as to expand clinical research into new indications; meanwhile, clinical and preclinical studies of other candidate products will also be conducted.

Dr. Liu Liping, Founder and CEO of HighTide, stated:“We thank our existing and new shareholders for their trust and support! Since its establishment in 2011, the Company has remained dedicated to building HighTide into a globally competitive innovative pharmaceutical company originating from China. Over the next 12 months, HighTide is expected to achieve multiple milestones. We look forward to continuing to share our progress with all friends who support HighTide.”

Professor Zhu Xun, Chairman of the Investment Committee at Jiatai Fund, renowned immunologist, professor and doctoral supervisor at Jilin University, former Vice President of Norman Bethune University of Medical Sciences, and former member of the National New Drug Advisory Committee, stated:“We are highly optimistic about HighTide’s focus on the therapeutic areas of gastrointestinal and metabolic diseases. Take NASH, for example: thanks to two decades of relentless exploration by the global scientific, clinical, industrial, and regulatory communities into its pathogenesis, diagnostic and treatment standards, intervention strategies, and approval pathways, the field is now on the verge of an explosive breakthrough. Once a drug gains market approval, physician and patient education, market awareness, and penetration rates will all rise rapidly. NASH not only represents a massive market worth tens of billions of dollars but is also poised to become one of the fastest-growing segments among chronic diseases in the future, making it a fiercely contested battleground for major international pharmaceutical companies.”

Among global competitors in the field of chronic liver disease, HighTide’s HTD1801 compound is grounded in a scientifically sound design philosophy and has demonstrated favorable efficacy and safety in international multicenter Phase II clinical trials. For various chronic liver diseases requiring long-term medication, this not only signifies significant clinical benefits and improved patient adherence but also creates opportunities for the development of new indications and for use as a foundational agent in combination therapies, pointing to substantial clinical value and commercial potential.

“The company boasts an outstanding international operations and management team, further strengthened by the addition of several internationally recognized experts. Its robust global patent portfolio provides comprehensive protection, leaving a deep impression on us. We look forward to working closely with the experienced HighTide team and Board of Directors, providing strong support for the development of its first-in-class novel drugs for chronic diseases, thereby fulfilling its original mission to continuously improve the quality of life for patients worldwide at the earliest possible date.”

Tigermed (300347.SZ/3347.HK) stated:“We have long been bullish on HighTide’s international team, its scientific R&D philosophy, and its efficient execution. As early as 2016, we invested in HighTide’s Series A round through Taifu Capital, a fund affiliated with Tigermed. We are delighted to continue supporting HighTide in this financing round and look forward to working closely with the HighTide team to bring more safe and effective original innovative drugs to patients worldwide.”

HighTide’s initiating institution, Shenzhen Hepalink Pharmaceutical Group Co., Ltd. (002399.SZ/9989.HK), stated:“We warmly welcome the capital injection from investors in this round into HighTide, as well as their strong recognition of the HighTide team. Since its inception, HighTide has focused on major disease areas with urgent unmet medical needs, such as non-alcoholic steatohepatitis (NASH), which affects hundreds of millions of people worldwide, as well as other metabolic and digestive disorders. Guided by innovative mechanisms of action, the company is achieving exciting results in clinical studies. Hepalink will continue to support HighTide’s rapid development and strive to advance human health.”

HighTide is a clinical-stage biopharmaceutical company dedicated to developing original innovative drugs, focusing on addressing critical unmet clinical needs in chronic liver diseases, gastrointestinal disorders, and metabolic conditions. The company is concurrently developing “First-in-Class” innovative therapies globally. HighTide has been awarded two grants under China’s “13th Five-Year Plan” Major Special Project for New Drug Innovation and Development. Additionally, the U.S. Food and Drug Administration (FDA) has granted the company two Fast Track Designations (FTD) and one Orphan Drug Designation (ODD), which are expected to accelerate drug approval processes and benefit patients worldwide.

Hepalink is a leading international pharmaceutical company headquartered in Shenzhen, China. The company was founded by a team of experienced polysaccharide chemists with scientific insight and a profound understanding of immunology. Hepalink maintains global operations across the pharmaceuticals, innovative biotechnology, and CDMO sectors. The company has established a leading portfolio of drugs in the fields of anticoagulant and antithrombotic therapies, and has built an innovative R&D pipeline targeting diseases with immune system pathological axes in oncology, autoimmunity, cardiovascular conditions, and other areas.

Jiatai New Century Biopharmaceutical Fund is dedicated to identifying and supporting biopharmaceutical and life sciences companies that promote human health. The core investment team comprises multiple industry experts and professional investors, with the current fund size amounting to RMB 1 billion. We focus on early- to mid-stage investments in the global biopharmaceutical sector, specializing in discovering outstanding entrepreneurial teams in the life sciences field and helping them realize their ambitious visions.

The Greater Bay Area Co-Home Development Fund was jointly established by large international industrial institutions, financial institutions, and new economy enterprises. It aims to seize historical opportunities such as the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the construction of an international science and technology innovation center. Focusing on fields related to technological innovation, industrial upgrading, quality of life, and smart cities, the fund covers the full lifecycle of projects including venture capital, private equity investment, listed company investment, and M&A investment. It provides financial support to outstanding entrepreneurs and enterprises, facilitates connections with industrial and financial resources, delivers long-term returns to shareholders and investors, and contributes positively to economic and social development.

Tigermed (Stock Codes: 300347.SZ/3347.HK) is a contract research organization (CRO) specializing in providing comprehensive professional services for the entire clinical trial process of new drug development. It delivers integrated and thorough clinical research services and solutions to global pharmaceutical and medical device innovators, thereby reducing R&D risks, shortening development cycles, cutting R&D costs, and accelerating product commercialization, with the ultimate goal of enabling patients to access newer and better pharmaceutical and medical products at an earlier stage.

CITIC Securities Company Limited was established in October 1995 and is China’s first securities company to be listed on both the A-share and H-share markets. Since 2017, alternative investment activities outside the scope of CITIC Securities’ proprietary investment product list have been fully undertaken by its wholly-owned subsidiary, CITIC Securities Investment Co., Ltd. (“CITIC Securities Investment”). CITIC Securities Investment deeply explores investment opportunities in sectors such as technology and advanced manufacturing, modern services, healthcare, new materials, and industrial goods. It actively advances the timing of investments to earlier stages, steadily promotes overseas investments, continues to leverage the comprehensive advantages of CITIC Securities, and increases investment intensity. The firm has invested in a portfolio of companies with core competitiveness in fields including semiconductors, medical devices, frontier biotechnology, and consumer sectors.

Founded in 2000, CO-WIN Venture Capital is among the first batch of professional domestic investment institutions in China. With two decades of investment management experience, it has consistently ranked among the top 10 best investment institutions by Zero2IPO Group and Financing China for many consecutive years. The firm boasts an investment and management team of over 100 seasoned professionals, with cumulative assets under management exceeding RMB 20 billion. It has invested in nearly 500 companies, 85 of which have achieved IPOs or been listed through mergers and acquisitions.

Shenzhen Winscapital Management Co., Ltd. is an elite, empowerment-focused investment institution specializing in equity investment. Adhering to a long-term value orientation, the company focuses on investments in biomedicine, advanced manufacturing, and intelligent IoT. Following a full-value-chain investment logic, its business covers angel investing, venture capital (VC), private equity (PE), and mergers and acquisitions with private placements. The company maintains close collaborations with leading institutions such as the Tsinghua Shenzhen International Graduate School’s Pearl River Delta Research Institute, the Shenzhen Institutes of Advanced Technology of the Chinese Academy of Sciences, and the School of Pharmacy at Nankai University, boasting rich industrial resources.

Chengdu Hunt Zest Investment Management Co., Ltd. (established in 2019) is a private equity investment firm based in Chengdu with a global perspective, dedicated to identifying and investing in frontier innovative enterprises in biotechnology and pharmaceuticals. Guided by our investment philosophy of “Perseverance Leads to Arrival, Sincerity Ensures Success,” we are committed to contributing to and collaborating in the establishment of China’s top-tier innovative pharmaceutical companies through long-term engagement, professional expertise, enthusiasm, and mutual benefit. Our team includes an investment evaluation and management group composed of senior scientists with over 20 years of experience in new drug research and development at top ten U.S. pharmaceutical companies. Leveraging in-depth professional analysis, we strive to deliver stable long-term returns for investors while making a modest contribution to the rapid development of China’s pharmaceutical industry.

Borui Capital is a private equity investment fund focusing on healthcare and pharmaceuticals, high-tech industries, TMT, and mass consumer sectors. Over the past decade, it has invested in numerous well-known projects such as Mindray Medical, 360, and Easyhome, empowering portfolio companies, facilitating their growth, and achieving mutual development with its investees.

Blue Ocean Capital is an emerging private equity firm specializing in investments in innovative drugs and biotechnology companies that feature the most cutting-edge and frontier technologies in the pharmaceutical sector. Its core team possesses composite expertise in research, investment, and the pharmaceutical industry, and manages funds in both RMB and USD. Adhering to a strategy of deep-value investment, Blue Ocean Capital actively empowers its portfolio companies and creates long-term value for investors, earning numerous industry accolades.