China-based Frontier Biotechnologies Inc. (SHA: 688221) announced plans to raise RMB 270 million (USD 51.4 million) through a private placement to support the development of its COVID-19 drug candidate FB2001. The funding will be used for a Phase I clinical study, global Phase II/III trials, and quality and process studies. Investors in the round include UBS AG and others.
Drug Profile
FB2001 is a 3CL protease inhibitor administered via intravenous injection, designed to treat COVID-19. The drug is currently in global multi-center Phase II/III clinical trials for hospitalized patients. Preclinical studies have shown that FB2001 is effective against major SARS-CoV-2 variants, including Alpha, Beta, Delta, and Omicron.
Global Rights
Frontier Biotech holds global rights to develop, manufacture, and commercialize FB2001, positioning the company to address the ongoing pandemic and emerging variants.-Fineline Info & Tech
