Hua Medicine Raises $25 Million for Phase II Trials of Diabetes Drug
January 08, 2015 at 02:28 AM EST
Hua Medicine Ltd. of Shanghai has closed a $25 million Series B financing. With the new funds, the company will begin a Phase II clinical trial of its lead asset, HMS5552 (Sinogliatin), a novel 4th-generation glucokinase activator (GKA) for Type 2 diabetes. Hua in-licensed global rights to Sinogliatin from Roche three years ago. Hua will also begin a Phase I trial of the molecule in the US this year, with plans to complete the trial before year end. Hua was formed in 2011 with an initial Series A round of $50 million. More details.... Stock Symbol: (SIX: ROG) Share this with colleagues: // //