China-based Atom Bioscience, known formally as Jiangsu Atom Bioscience and Pharmaceutical Co., Ltd, has reportedly raised over RMB 600 million (USD 82 million) in a Series D financing round. This follows a GTJA Investment-led Series C financing round in January 2022, which raised RMB 300 million (USD 41 million). The latest funding round, led by Kaitai Capital, included contributions from Dachen Caizhi Fortunevc, Huajin Capital, Qiandao Financial, and NNFE Fund.
Funding to Propel Clinical Studies and R&D
The proceeds from the Series D financing will be instrumental in completing the pivotal clinical study for ABP-671 in China and expanding its reach globally. Additionally, the funds will advance the research and development of Atom Bio’s other drug pipelines, which are focused on targeting inflammatory diseases, thereby broadening the company’s therapeutic impact.
ABP-671: A Promising Treatment for Chronic Gout
Atom Bio’s lead product, ABP-671, is a Category 1 drug being developed to treat chronic gout. The drug works by reducing serum uric acid (sUA) levels through the inhibition of renal uric acid transporter 1 (URAT1), facilitating the normal excretion of uric acid salts in urine. The main clinical endpoint for ABP-671 is to reduce sUA levels to below 6 mg/dL (360 μmol/L), addressing a significant unmet need in the treatment of chronic gout.
