(VCBeat) Apr. 14, 2021 -- Chengdu Hyperway Pharmaceuticals Co., Ltd. ("Hyperway"), a company focusing on the R&D of innovative drugs, has recently closed tens of millions of yuan in Series A funding. So far, Hyperway has raised three rounds of financing, with a total of over 100 million yuan.

The latest round was jointly led by Huaige Capital and Sichuan Academician Science and Technology Innovation Fund ( "Sichuan Academician Fund") under the management of Sichuan Development Hongke Investment. Proceeds from this transaction will be used for the development of Hyperway's multiple first-in-class drug candidates as well as four IND applications that will be completed this year and next.

Hyperway is a startup biotech company founded in January 2019 by a group of high caliper biotech entrepreneurs and industry veterans, located in Chengdu high tech Development Zone. Hyperway is committed to discover and develop new medicines to address unmet medical needs using breakthroughs in science and technology.

Hyperway has attracted many talents worldwide in building a world-class R&D team and scientific advisory team. Its core team members have many years of scientific and management experience in leading global or domestic pharmaceutical companies, such as Bayer, Sanofi, Merck, Wuxi PharmaTech, ChemPartner and Amgen. Among their achievements, some are inventors of several first-in-class new drug candidates that are being evaluated in clinical trials. 

Within a short period of time, Hyperway has developed an impressive pipeline cover many therapeutic areas, including oncology, pain, and CNS (central nervous system). Among them, one of the core products, HBW-3-10, as a second-generation BTK inhibitor, can overcome the severe resistance of the first-generation BTK inhibitors represented by ibrutinib and will complete the IND application this year.

Founded in 2016, Huaige Capital is a Shanghai-headquartered venture capital focusing on the healthcare sector (medical devices, innovative drugs, biologics, outsourcing services, etc.), and preferably invest at the early or growth stage. In line with the spirit of "integration and specialization", the company is committed to creating greater value for both its investors and its portfolio companies.

Sichuan Academician Fund was initiated and established by Sichuan Development Holding, with an initial scale of 1 billion yuan. It is a theme fund that accurately serves high-level talents, aiming to better promote the application of high-level scientific and technological innovation achievements in Sichuan. Sichuan Development Holding is one of the few trillion-dollar state-owned enterprises in the western region and even the whole country.