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    Home > Medical News > Medical World News > Xinji Pharmaceuticals has re-invested in Deqi, a Chinese biotech company

    Xinji Pharmaceuticals has re-invested in Deqi, a Chinese biotech company

    • Last Update: 2021-02-26
    • Source: Internet
    • Author: User
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    China raised an additional $120 million in a second round of financing, supported by partner Xinji Pharmaceuticals.The B-Series was licensed to Deki East and Southeast Asia ATG-008, a TORC1/2 inhibitor used to treat late-stage hepatitis-positive hepatitis-positive liver cell carcinoma, after an initial public offering of $21 million in mid-2017.'s latest investment is led by China's VCs Boyu Capital and Fangyuan Capital, with Xinji Pharmaceuticals/SelGen, Wuxi Venture Capital Fund, Taikang, Qiming Venture Partners and TF Capital also joining the round.In its update, Deqi said it would use the proceeds to develop ATG-008, a new-based pharmaceutical called CC-223 that does not appear on the current pipeline list of U.S. biotech companies - and at ATG-010 (selinexor), originally developed by Karyopharm and licensed by Deki in the Asian market last May, as well as other clinical-stage assets.the latter includes two other selective nuclear output inhibitors (SINE) - AGT-016 (eltanexor) and ATG-527 (verdinexor) - as well as PAK4/NAMPT dual inhibitors (AGT-019), all of which are also licensed from Karopharm.ATG-010, as a first-class SINE, is conducting a series of post-clinical trials of blood cancers and solid tumors, including multiple myeloma, diffuse large B-cell lymphoma and liposarcoma."This round of financing is critical to Deki's growth, and he has held such positions at NewKids Pharmaceuticals, Novarma and Johnson and Johnson, " said Jay Chou, founder and chief executive. "We will continue to maintain and advance rigorous, science-driven and patient-centric research and development, while actively preparing for the commercialization of our leading products in China and the Asia Pacific region."The company is building a manufacturing and research facility in Shaoxing to provide clinical and commercial supplies of its pipeline drugs.The company has previously said it believes its arrangement with Deji is the basis for a possible strategic partnership between the two companies, and participation in the latest round of financing suggests that this still exists. Xinji Pharmaceuticals suggests that Deki Pharmaceuticals could bring other new drugs to the Asian market. (Compiled by this web)
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