Cloudbreak Therapeutics Raises ￥180M in a New Funding Round

According to lieyunwang.com, Cloudbreak Therapeutics, a clinical-stage biotechnology company focusing on ocular drug development, has completed a ￥180 million financing round, led by V-Capital, with participation from Hong Kong-listed company Grand Pharmaceutical, Lumiere Fund, and BOC International.

Proceeds from the latest round will mainly be used to support the Phase III clinical trial of Cloudbreak Therapeutics' core product CBT-001, as well as to develop another four innovative ophthalmic pipelines that are about to enter the Phase II clinical trial and to expand the R&D team at the base in Guangzhou.

Cloudbreak Therapeutics completed its Series A financing of 110 million yuan from HY Capital in October 2018. 

Cloudbreak Therapeutics is a clinical-stage biotechnology company focusing on ocular drug development. Founded in September 2015 in Irvine, California, USA, Cloudbreak Therapeutics quickly advanced its first drug candidate through lead selection, pre-clinical IND-enabling studies and successful IND submission. 

Cloudbreak Therapeutics specializes in the development of innovative drug therapies to treat both anterior segment (front of the eye) and posterior segment (back of the eye) ophthalmic diseases. The company has formulated a potent multi-kinase inhibitor to block angiogenesis (development of new blood vessels) and fibrosis (formation of excess fibrous connective tissue) into a topical eye drop to treat anterior segment ophthalmic diseases.

CBT-001 is a potent multi-kinase inhibitor of VEGFRs, PDGFRs, FGFRs. It can inhibit angiogenesis and fibrosis. CBT-001 is a unique topical formulation following the 505b(2) regulatory pathway to treat pterygium that currently has no approved drug treatment. In Phase II clinical trial, CBT-001 was shown to be highly significant in reducing pterygium vascularity, cornea lesion length, and conjunctival hyperemia.

Cloudbreak Therapeutics has set up R&D centers in both China and the US. The American team focuses on patents, while the Chinese team focuses on preparation R&D and non-clinical technology.

V-Capital is a PE investment institution that focuses on investment discovery, long-term operations as well as integration trading of industry assets services. V-Capital focuses on four industries: Healthcare, TMT and Culture, Integrated Circuit, Alternative Energy & High-end Manufacturing. It operates as a subsidiary of Jiangsu Huaxi Holding.

Grand Pharmaceutical (HK: 00512) focuses on medicine production, medical devices and chemical raw materials.