ROCKVILLE, MD and SHENZHEN, CHINA, January 5, 2023 (ACN Newswire). HighTide Therapeutics Inc. (HighTide), a global integrated, clinical-stage biopharmaceutical firm, announced today that it had closed a $107,000,000 Series C/C+ financing. The funding was led by China Development Bank Capital’s TCM Healthcare Fund in Guangdong. Yuexiu Fund, Yuthai Fund were also investors.
The financing will fund multiple development programs worldwide, including clinical trials in the mid- to late-stage, as well as the commercialization of high-quality pipeline products and their business development. HighTide’s leading candidate HTD1801, a multifunctional compound, is being developed to treat patients with complex digestive and metabolic diseases.
HighTide completed numerous clinical trials for HTD1801 successfully and is continuing to develop its global programs of development as follows:
The Phase 2 clinical trial in type 2 diabetics (T2DM), is close to completion.
Phase 2b of a clinical trial in nonalcoholic Steatohepatitis has begun;
Based on positive results from Phase 2 of the primary sclerosing cholangitis clinical trial (PSC), a successful End-of Phase 2 (EOP2) meeting took place with the U.S. Food and Drug Administration.
We are delighted to welcome well-respected investors into our C/C+ Round after completing the successful Series B+ round of $60 million at 2020’s end. “We are thankful that investors have so strong faith in HighTide’s team, our pipeline’s commercial value, and future developments prospects.” Liping Liu Ph.D. is founder and chief executive officer of HighTide. HighTide’s Series C/C+ funding is an important milestone. This will allow us to rapidly accelerate clinical and commercial development for our innovative pipeline as well as external business partnerships.
Information about HighTide Therapeutics
HighTide, a global integrated biopharmaceutical company at clinical stage, focuses on developing novel therapies for digestive and metabolic diseases. HTD1801, the company’s leading drug candidate is currently under clinical development. It can be used to treat type 2 diabetes, nonalcoholic steatohepatitis, severe hypertriglyceridemia, and primary sclerosing Cholangitis. U.S. Food and Drug Administration granted HTD1801 Fast Track status for PSC and NASH, and Orphan Drug designation (PSC). HTD1801 was included in China’s National Major New Drug Innovation Program. Visit www.hightidetx.com for more information.
Subject: Summary of a Press Release
Source: HighTide Therapeutics Inc.
Sektors: BioTech/Healthcare & Pharm, Clinical Trials
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