Suzhou-based new drug developer Vincentage has reportedly raised close to RMB 100 million (USD 14.6 million) in its latest financing round. This significant funding will be used to accelerate clinical studies and regulatory filings for multiple innovative drugs, particularly oral small molecule GLP-1RA drugs, as well as to develop new pipeline products in the metabolic field.
Use of Proceeds
The proceeds from this financing round will be directed towards ramping up clinical studies and regulatory filings for Vincentage’s innovative drug portfolio. A significant focus will be on oral small molecule GLP-1RA drugs, which have shown promise in the treatment of metabolic diseases such as type 2 diabetes and weight loss.
Company Background and Achievements
Vincentage, which operates a biomedicine park in Suzhou and a research and development center in Shanghai, has made significant progress in its drug development programs. The company has recently concluded a first-in-human (FIH) trial for its VCT220, a small molecule GLP-1RA agonist. Investigational New Drug (IND) filings for other products targeting type 2 diabetes and weight loss are expected later this year.-Fineline Info & Tech
