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Hinova Completes Series C Financing of Nearly RMB 1 Billion to Accelerate Clinical Trials and Global Development

Time:2020-09-30 Source:海创药业 Hits:1229

Hinova, a national high-tech enterprise focusing on developing novel therapeutics for cancers and metabolic diseases, announced that it has completed Series C financing of nearly RMB 1 billion. This round of financing was invested by a number of well-known investors, including Shenzhen Investment Holdings Capital, Tigermed, Huarong Rongde Asset Management, Sinopharm-CICC, CCB International, Hongtai Aplus, Sealand Innovation,  Infinity Capital, Founder H Fund, DNV Capital, Qindao Capital, Shenzhen CAS-FTU Investment Management, with WinX Capital and GSI acting as financial advisors. The funds raised will be used mainly for the domestic and global multi-center clinical trials and commercialization of the company's core products, which is expected to accelerate the global market expansion of Hinova.

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“After years of dedication, we have built a diverse pipeline of novel therapeutics with promising potential in frontier markets, and have established advanced technology platforms. We are very honored to join hands with these outstanding investors,” said Yuanwei Chen, Ph.D., President and CEO of Hinova. “With the support from our investors and strategic partners, we are confident about expediting clinical and commercialization progress in China and overseas. We will fulfil our corporate mission of ‘creating high-quality medication to benefit patients worldwide’ and bring innovative therapies to market as soon as possible to address unmet clinical needs.

Hinova has 9 innovative projects in the R&D stage, including HC-1119, which has entered the global multicenter phase-III clinical trials for the treatment of metastatic castration-resistant prostate cancer; HP501, an innovative drug for hyperuricemia and gout, which is in a Phase II multicenter clinical trial in China. In addition, there are multiple products in preclinical studies.

Hinova has built a core technical team composed of 2 national talent experts and more than 10 senior returnee specialists (from America, Germany and France). The company has world-leading technology platforms, including PROTAC (PROteolysis Targeting Chimera) platform, deuteration platform, novel target discovery and validation platform, and lead compound optimization screening platform. Hinova is currently undertaking 2 National Major Projects of "Significant New Drugs Creation" awarded by Ministry of Science and Technology of the People’s Republic of China. By now, it has applied for about 130 PCT and national patents, with more than 30 patents granted in China and in the globe, such as the US, EU, and Japan.

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Previously, Hinova completed Angel, A and B/B+ rounds of financing and received investments from more than 10 investors, including WinPower, Haisco Pharmaceutical Group, Hermed Capital, Fosun Pharma, Lang Sheng Investment, BioTrack Capital, Leading Capital, Ji Lin Ao Dong, GF Xinde Investment, Yunion Healthcare Ventures, etc.