Yantai Dongcheng’s Lannacheng Bio Secures RMB150m to Advance [18F] Spiritide Study

Yantai Dongcheng Pharmaceutical Group Co., Ltd (SHE: 002675)’s controlling subsidiary, Yantai Lannacheng Biotechnology Co., Ltd., has secured RMB150 million (USD20.7 million) in funding from three new investors: Wenzhou Ruili Medical New Consumer Industry Investment Partnership, Shanghai Linjue Enterprise Management, and Shanghai Hanchengming Enterprise Management, as well as its parent company Dongcheng Pharma.

Funding Details
With the funding, Lannacheng Bio has committed to fulfilling several key milestones within specified timeframes. These include completing the Phase III study for its [18F] Spiritide before December 31, 2025, and obtaining no less than two IND approvals in China within this year.

Company Background
Yantai Dongcheng Pharmaceutical Group Co., Ltd is a leading pharmaceutical company in China, and its subsidiary Lannacheng Bio is focused on the development of innovative drugs. The funding will support Lannacheng Bio’s efforts to advance its pipeline and meet regulatory requirements.-Fineline Info & Tech