$115 million! Another innovative pharmaceutical company announced the completion of the financing

On August 24, Cornell Biopharmaceuticals ("Conrad") announced the completion of a $115 million round of C financing.
the current round of financing is led by RA Capital Management, with Lilly Asia Ventures, Boxer Capital and HBM Healthcare Investments, as well as existing investment shareholder Qiming Ventures continuing to follow and oversubscribe. according to
, Conrad is a biopharmaceutical company focused on the development of new drugs for autoimmune diseases and inflammatory therapy, establishing a high-volume drug screening platform based on T-cell immunomodulation that can quickly and efficiently identify and screen disease treatment molecules for related targets compared to traditional methods.
for the purpose of the current round of funding, Conrad said it would be mainly used to advance phase 2 clinical trials of the innovative drug CBP-201 for moderate to severe specific dermatitis (AD) and to accelerate the treatment of ulcerative colitis (UC) with another innovative drug, CBP-307. Phase 2 clinical trials, as well as clinical development for the treatment of moderate to severe Crohn's disease (CD), will also be used to expand the clinical development of CBP-201 new adaptations, as well as the production of CBP-201 and CBP-307 clinical trial samples for the next phase 3 of the two new drugs.
it is understood that the innovative drug CBP-201 is also the company's very concerned about the drug, the variety of adaptive disorders is not only moderate to severe endexual dermatitis, but also asthma and rhinitis rhinitis rhinitis.
moderate to severe specific dermatitis is a common serious, chronic autoimmune disease.
autoimmune diseases market is huge, the global autoimmune disease market is expected to reach 60 billion U.S. dollars by 2020, China is expected to reach 37.7 billion yuan in 2023 potential market size, a compound growth rate of up to 23%.
addition, part of the funding for this round will be used to advance research into the clinical phase of other new products, including the first human (Phase 1) clinical study of CBP-174, a global start-up small molecule drug for the treatment of itching.
addition, the company plans to advance CBP-174, a small molecule drug for itching, to Phase 1 clinical trials in the fourth quarter of this year.
are becoming the focus of the current biopharmaceutical industry.
the competition threshold is high because of the high investment and risk involved in developing an innovative drug.
financing can inject impetus into the development of innovative pharmaceutical companies.
understand that in addition to Cornell, a number of innovative pharmaceutical companies have recently obtained financing.
, for example, on August 19th, Shenzhen Olive Biopharmaceutical Technology Co., Ltd. received 15 million yuan in angel round financing, which was invested by Junsheng Investment's fund.
it is understood that the current round of funds will be used for the development of the company's preclinical projects.
August 5, the antibacterial new drug research and development enterprises, Alliance Pharmaceuticals announced the completion of nearly 300 million yuan D-round financing.
This round of financing will be jointly invested by Huagai Capital, China National Pharmaceutical COFCO Medical Industry Fund and Qingke Capital Management, and the funds will be mainly used to promote and expand clinical pipeline research and development, as well as the full independent commercialization of the Chinese market.
Deqi Pharmaceuticals also announced the completion of a $97 million round of C-round financing, which will be used to continue to consolidate and strengthen research and development pipelines, promote the clinical development of hematoma and solid tumor products, while enhancing commercial operations in the Asia-Pacific market, and continue to enhance the ability of early drug independent research and development.
, according to incomplete statistics in the industry, at least 97 financings have been completed in China's biopharmaceutical and technology sectors since the first half of this year, and some innovative biopharmaceutical companies at different stages of development have received considerable financial support.
In June, for example, Python completed a $100 million round B financing that will be used to continue to drive clinical research on CAR-T therapy JWCAR029, further expand research and development pipelines and commercialize preparation to support new product launches.