HaiChuang Pharma Completes Nearly RMB 1 Billion Series C Financing to Accelerate Global Clinical Trials and International Expansion

VCBeat learned that on September 29, 2020, Hinova Pharmaceuticals, an innovative drug company focused on the research, development, and industrialization of novel therapeutics for cancer and metabolic diseases, announced the completion of its Series C financing round, raising nearly RMB 1 billion.

This round of financing was jointly participated by multiple well-known investment institutions, including Shenzhen Capital Holdings, Tigermed, Huarong Rongde, Sinopharm CICC, CCB International, Hongtai Fund, Guohai Innovation, Infinity Group, Founder Hesheng, Denovo Capital, Qindao Capital, and Zhongke Rongxin. The funds raised will be primarily used for multi-center clinical trials in China and overseas, as well as industrialization of the company’s multiple products, to accelerate Hinova Pharmaceuticals’ global market expansion.

Dr. Chen Yuanwei, Founder and Chairman of Hinova Pharmaceuticals Inc., stated: “After years of dedicated effort, Hinova Pharmaceuticals has initially established a product pipeline with broad market prospects, while continuously strengthening its accumulation of core technological advantages. We are honored to have gained the recognition of these esteemed investment institutions. The ability of Hinova Pharmaceuticals to accelerate clinical development and industrialization both in China and overseas is inseparable from the support of every investor and strategic partner. We will continue to uphold our corporate mission of ‘Creating Quality Medicines to Benefit the World,’ striving to bring our high-quality products to market as soon as possible to address unmet clinical needs.”

Hinova Pharmaceuticals Inc. is a national high-tech enterprise dedicated to the research and industrialization of drugs for cancer and metabolic diseases. The company currently has nine independently developed innovative products. Among them, HC-1119 (a novel drug for the treatment of castration-resistant prostate cancer) is one of the few new drug candidates in China simultaneously pursuing regulatory submissions in both China and the United States to conduct global multicenter Phase III clinical trials. The Phase III clinical trial protocol has been approved by China’s National Medical Products Administration (NMPA) and the U.S. Food and Drug Administration (FDA). The Phase III clinical trial of HC-1119 in China is being conducted concurrently at multiple clinical research centers across the country. In collaboration with PPD, a globally renowned clinical research organization, global multicenter clinical studies are also underway in the United States, Europe, and other countries and regions. HP501 (a novel drug for the treatment of gout and hyperuricemia) is currently undergoing Phase II multicenter clinical trials in China. Additionally, several other product candidates are in the preclinical research stage.

Hinova Pharmaceuticals Inc. has established a core technical team comprising two national-level experts and more than ten senior overseas-returning experts (including American, German, and French nationals). The company possesses internationally leading technology platforms, including a deuterated drug technology platform, a prostate cancer drug screening platform, and a PROTAC technology platform. It is currently undertaking two National Major New Drug Creation Special Projects supported by the Ministry of Science and Technology. Hinova has filed approximately 130 PCT and Chinese invention patent applications and has obtained over 30 patent grants in China, the United States, Japan, Europe, and other countries and regions.

Previously, Hinova Pharmaceuticals Inc. completed its angel round, Series A, and Series B/B+ financing rounds, securing investments from more than ten renowned institutions, including Yingchuang Capital, Haisco Pharmaceutical, Tongde Capital, Fosun Pharma, Longsheng Investment, Boyuan Capital, Liding Capital, Jilin Aodong, GF Xinde, and Yinglian Health Fund.