China-based Ganzhou Hemay Pharmaceutical Co., Ltd, an innovative drug developer focused on autoimmune diseases and oncology, has announced the completion of a Series D financing round at close to RMB 300 million (USD 44.18 million). This significant funding round was led by Hongfu Investment, with contributions from Jihan Capital, Hainan Holdings, Tailong Capital, Anxin Guosheng Microchip Pharmaceutical Health Equity Investment Fund, and others. The proceeds will be used to accelerate clinical trials, new drug regulatory filing, commercialization layout, and industrialization implementation.
Use of Proceeds
The funds raised will be directed towards ramping up clinical trials, advancing new drug regulatory filings, and enhancing commercialization and industrialization efforts. This strategic investment will support Hemay Pharma’s continued growth and innovation in the development of treatments for autoimmune diseases and oncology.
Company Background and Product Pipeline
Hemay Pharma boasts a rich product pipeline covering a range of conditions, including psoriasis, Behcet’s disease, psoriatic arthritis, rheumatoid arthritis, specific dermatitis (eczema), chronic obstructive pneumonia, inflammatory bowel disease, ankylosing spondylitis, breast cancer, non-small cell lung cancer, and more. The company has concluded a Phase III clinical study for its Hemay005 in psoriasis, a small molecule PDE4 inhibitor. Hemay005 has also been granted orphan drug designation (ODD) status from the US FDA for use in Behcet’s disease, highlighting the potential of this drug to address significant unmet medical needs.-Fineline Info & Tech
