Chance Pharmaceuticals Raises ￥80M in Series B Financing

According to VCBeat, on June 15, 2020, Hangzhou Chance Pharmaceuticals ("Chance Pharmaceuticals"), a company focused on inhalation drug delivery platform, announced the completion of ￥80 million in Series B financing from Yipinhong Pharmacy, a subsidiary of Yipinhong Pharmaceutical, and other investors. The funds raised will be used to promote the clinical research of products and expand the R&D team and pipelines.

Previously, Chance Pharmaceuticals raised ￥10 million in an angel round from Delian Capital in April 2016 and completed ￥55 million Series A financing led by China Venture Capital included Caitai Capital and Germanland Capital in January 2018.

Founded in 2015, Chance Pharmaceuticals is a fast-growing Hi-tech company that focuses on research, development, and commercialization of inhalation products specialized in DPIs for local and systematic indications. 

Chance Pharmaceuticals is establishing a sustainable and global market-value oriented product pipeline covering respiratory and systematic indications by its proprietary pulmonary drug delivery platform technology including novel particle engineering, unique inhaler design as well as inhaler manufacture partnered with international top-tier manufacturers.

Based on the advanced micro-pulverization technology, Chance Pharmaceuticals can select appropriate methods for drug development according to the characteristics of molecules. In addition, the spray drying method can be used in biological macromolecules, such as peptides, proteins and nucleic acids while the conventional airflow crushing method can’t. Therefore, Chance Pharmaceuticals has its unique strength in development.

Having conventional jet milling and blending technology as well as up-to-date spray dry technology and associated know-hows, Chance is able to choose suitable formulation technology to develop the desired product according to indication, patient population, expected clinical settings as well as cost associated factors.

Dr.Donghao Chen, the founder and CEO of Chance Pharmaceuticals, used to be the Director of R&D at Alnylam, a world-leading RNAi company in the US where he built up the delivery platform for siRNA. As the project leader, he has led the team to advance successfully the world's first inhalable siRNA to treat RSV to clinical Phase I in the US. 

Founded in 2002, Yipinhong Pharmacy is a pharmaceutical research and development, production, sales for the core business of modern pharmaceutical enterprises. Yipinhong Pharmaceutical, its wholly-owned subsidiary, is a manufacturer of chemical medicine and traditional Chinese medicine.