Chance Pharmaceuticals, a clinical-stage biotechnology company that focuses on developing innovative treatments for diseases like asthma and COPD, has announced the completion of a $30 million Series C financing round headed by Lapam Capital, with participation from new investors HEDA BioVenture and CMS Capital and existing investor Guozhong Capital.
According to the company, the new funding will be used to enhance its R&D (research and development) efforts for its advanced pipeline of inhalation therapies, start collaborating with additional businesses and fast-track constructing its manufacturing plant.
Mr. Zhihua Yu, Chairman of Lapam Capital, said that their firm is positive about the market potential for revolutionary inhalation treatments. With a management team with complementary experience, Chance retains the leading particle engineering know-how, sophisticated inhaler design, and unique inhalation assessment platform.
The company hopes that this investment will hasten the development of its breakthrough inhalation treatments, allowing more patients to benefit.
Dr. Donghao Chen, Founder and CEO of Chance Pharmaceuticals, says that they are pleased to have prominent healthcare-focused investor Lapam Capital lead this round alongside other top tier investors, owing to their track record of rapidly and effectively developing the platform to create clinic-ready inhalation treatments for unmet needs in China and beyond.
The new series C funding will enable the organization to unite its strategic positioning, construct a new manufacturing facility with global governing standards, accelerate the creation of a new technology platform, and move several projects into the clinic, which will provide Chance with multiple drug development skills.
Additionally, Dr. Chen appreciated the teams' commitment and devotion to implementation and innovating human health.
About Chance Pharmaceuticals Co. Ltd.
Chance Pharmaceuticals is a clinical-stage biotechnology firm focused on researching, developing, and commercializing inhalation treatments for illnesses like COPD, asthma, pulmonary arterial hypertension, and central nervous system disorders.
Source Credit - https://www.globenewswire.com/news-release/2021/10/11/2311485/0/en/Chance-Pharmaceuticals-Secures-30-Million-Series-C-Funding-to-Advance-Innovative-Pipeline-and-Initiate-Additional-Business-Collaborations.html