DPI developer Chance Pharmaceuticals announced the completion of a financing round with participation from Heda Health Fund and Qihang Venture Capital, with proceeds intended to support Phase 3 trials of CXG87 inhaled dry powder budesonide / formoterol as well as development of some additional DPI formulations. The company did not specify the amount raised.
Chance Pharma CEO Donghao Chen commented, “We are deeply grateful to our investors for their trust and support. This financing marks a pivotal milestone for Chance Pharma as we enter a critical phase. The funding will significantly accelerate the Phase 3 clinical trials of CXG87, a product with great clinical and commercial potential. Furthermore, it will strengthen our innovative inhaled drug development capabilities, anchored by our proprietary spray-dried formulation platform. Moving forward, we will continue to leverage our unique technological expertise to address unmet clinical needs, foster collaborations with domestic and international partners, and deliver safe, efficacious, and cost-effective treatment options to patients worldwide.”
Read the Chance Pharmaceuticals press release
