News from the investment community on December 28,R&D of new oncology drugsZhejiang Tongyuankang Pharmaceutical Co., Ltd. (hereinafter referred to as Tongyuankang Pharmaceutical) announced its completionNearly 200 million yuan in Series D financing, this round of financing by:Huiyu Pharmaceutical led the investment, followed by well-known institutions such as CICC Capital**, Changxing Financial Holding and Huzhou Talent**and Capital has served as a financial advisor for a long time.
Founded in November 2017, Tongyuankang Pharmaceutical has established a 30,000-square-meter new drug R&D center in Changxing Life Science Park, Huzhou, Zhejiang, followed by the establishment of the company's administrative headquarters, clinical medicine department and business development department in Shanghai, a small molecule drug screening platform in Zhengzhou, and a new drug preparation factory under construction in Changxing, Huzhou.
Tongyuankang Pharmaceutical has a group of R&D and management teams with an international perspective, with an average work experience of more than 20 years of core executives, including 4 national experts, 4 provincial experts and dozens of returnee experts and doctors. After six years of vigorous development, the company has more than 140 employees, with a luxury team covering the whole process of drug discovery, druggability evaluation, CMC, clinical, registration, business development, and operation.
The company focuses on the development of best-in-class & first-in-class small molecule anti-tumor drugs, of which TY-9591 has entered clinical phase trialsTY-302 has entered clinical trials;TY-2136B has been in a Phase II trial in the U.S. and was granted Orphan Drug Designation (ODD) Designation by the FDA on September 20, 2023 to support accelerated clinical development and regulatory launchIn addition, the company's RET, CDK7, CDK2 4 6, EXON20 and other pipelines have completed the IND application of China and the United States, and are rapidly advancing to the clinical stageThere are also a series of innovative target small molecule drugs in the United States and the United States in the process of IND filing. In addition, with the expansion of scale, the company has recently promoted its business line to the field of central nervous system drugs (CNS), actively explored leading targets at home and abroad, and is expected to obtain the first IND approval in this field in the near future.
Dr. Wu Yusheng, Chairman of Tongyuankang PharmaceuticalSaid: Despite the major changes in the macro environment at home and abroad, Tongyuankang has completed this round of financing based on excellent products and efficient team. We would like to thank the industrial investors represented by Huiyu Pharmaceutical, as well as the financial investors represented by CICC Capital and Evering Financial Holdings, for their recognition of the company's products and team. Tongyuankang regards the trust of shareholders as the cornerstone of the company, and actively fulfills its commitments to shareholders every time. Tongyuankang will, as always, repay the recognition of new and old shareholders with rapid clinical progress and top operational efficiency.
Dr. Ding Zhao, chairman of Huiyu Pharmaceutical, the lead investor in this roundSaid: We are honored to participate in this round of financing of Tongyuankang Pharmaceutical. Relying on a mature innovative small molecule drug development platform, Tongyuankang Pharmaceutical is deeply engaged in the field of solid tumors with unmet clinical needs such as lung cancer and breast cancer.
Tongyuankang Pharmaceutical has distinctive characteristics in target discovery, pharmaceutical and chemical synthesis, preclinical research and development and clinical advancement, and Huiyu Pharmaceutical has rich experience in API development, CMC and product sales, and looks forward to the opportunity for the two companies to cooperate to produce the whole process coverage from academic concept, compound development to clinical advancement, from drug production, drug registration to drug sales, and maximize capital efficiency.