China's Frontier Biotechnologies gets $43m round

Shenzhen Capital Group and healthcare specialist Efung Capital also took part in the round. The proceeds will go towards the continued development of Albuvirtide, a long-acting HIV fusion inhibitor for which the China Food & Drug Administration accepted a new drug application in July of last year.

Frontier was founded in 2002 by Dong Xie, who was previously director of research at Tibotec Therapeutics, which was acquired by Johnson & Johnson the same year. It also focused on treatments for HIV as well as hepatitis C.

Headquartered in Nanjing, with facilities in Chongqing and Beijing, Frontier is a research-based, clinical stage pharmaceutical company that leverages China's large patient population and growing drug market. It seeks to collaborate with international research institutions through product licensing and acquisitions.

"Long-term injection-based drugs can bring clinical benefits that oral medication cannot to AIDS patients; it's an important trend in the development of anti-AIDS drugs. After 14 years of hard work, we are one step ahead of the rest of the world - Albuvirtide has been declared the first anti-AIDS long-lasting injectable. The current round of financing was completed quickly, indicating that investors at the leading edge of biotech recognize our achievement," said C.J. Wang, CEO of Frontier, in a statement.

China Renaissance served as financial advisor to Frontier on the transaction.

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• Topics
• Greater China
• Healthcare
• Expansion
• China
• Shenzhen Capital Group
• Growth capital
• Pharmaceuticals