China biotech player Reistone raises $100m

Other investors include Yunion Healthcare Fund, Shanghai Zhangjiang Haoheng Innovative Equity Investment, Zero2IPO Industry Investment, and Hanne Capital.

This is Reistone’s first external funding round. The proceeds will be used for R&D and global clinical trials of novel drugs.

In 2018, Hengrui Pharmaceuticals invested USD 100m to launch Reistone, which focuses on immune inflammation. The initial plan was to replace current hormonal therapies and improve the long-term quality of life for patients.

There are now four candidates in the pipeline that have entered phase-three clinical trials and several self-developed molecules that have started pre-clinical research. The key asset, a pill known as SHR0302, was granted breakthrough therapy designation by the National Medical Products Administration to treat moderate to severe atopic dermatitis.

SHR0302 is said positioned as a more efficient and safer atopic dermatitis treatment than current options in the market. Phase-three trials are underway for several other diseases as well.

Autoimmune diseases affect about 5-8% of the world's population. It is already the second-largest drug market in the world after tumours. However, drug development and diagnosis in China are considered well behind those of developed markets.

KeyMed Biosciences, a company that also focuses on autoimmune diseases, listed in Hong Kong last year through a HKD 3.1bn (USD 395m) IPO.

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• Topics
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• Huagai Capital