China-based Staidson (Beijing) Pharmaceutical Co., Ltd (SHE: 300204) has announced plans to raise RMB 580 million (USD 84.1 million) through a private placement, with the net proceeds designated for innovative drug research and development (R&D). This move follows previous unsuccessful attempts to raise funds through private placements of RMB 1.08 billion (USD 156.6 million) in April 2020 and RMB 300 million (USD 43.5 million) in September 2022.
Financial Boost for Key R&D Programs
The anticipated financial injection is expected to support several key programs, including BDB-001 for the treatment of moderate to severe suppurative hidroadenitis (HS) and antineutrophil cytoplasmic antibody (ANCA) associated vasculitis, STSP-0601 for hemophilia, and the Phase II clinical trial of COVID-19 drug STSA-1002 combined with STSA-1005 for acute respiratory distress syndrome (ARDS).
Staidson’s Comprehensive Product Pipeline
Staidson’s product pipeline is diverse, encompassing protein drugs (including therapeutic monoclonal antibodies), gene therapy/cell therapy drugs, and chemicals. The pipeline addresses a range of diseases, including those related to the nervous system, infectious diseases, gastrointestinal diseases, urinary system diseases, and autoimmune diseases. This comprehensive approach positions Staidson as a significant player in the pharmaceutical industry, with a focus on developing innovative treatments for various health conditions.-Fineline Info & Tech
