Chance Pharmaceuticals raises $30m in Series C for inhalation therapies
Chance Pharmaceuticals, a Chinese clinical-stage biotech company focused on inhalation therapies for debilitating diseases, has raised $30 million in a Series C financing round.
The funding round of the Chinese pharma company was led by new investor Lapam Capital, a healthcare-focused venture capital firm based in China, as per an announcement made in October 2021.
Other new investors such as CMS Capital and HEDA BioVenture along with existing investor Guozhong Capital also took part in the funding round.
Zhihua Yu — Chairman of Lapam Capital said: “We are optimistic about the market potential of transformative inhalation therapies. Chance retains the leading particle engineering knowhow, advanced inhaler design, and proprietary inhalation evaluation platform, with a management team of complementary expertise.
“We expect that this funding will accelerate Chance’s development of their transformative inhalations therapies and benefit more patients.”
Chance Pharmaceuticals plans to use the new capital for advancing research and development efforts for its pipeline of inhalation therapies, pursue additional business collaborations, and fast track the construction of a manufacturing plant.
The Chinese biotech company is developing inhalation therapies for chronic obstructive pulmonary disease, pulmonary arterial hypertension, asthma, as well as central nervous system disorders.
Dr. Donghao Chen — founder and CEO of Chance Pharmaceuticals said: “We are thrilled to have the prestigious healthcare-focused investor Lapam Capital lead this round with these other top tier investors, thanks to our track record of quickly and efficiently advancing our platform to develop clinic-ready inhalation therapies for unmet needs in China and beyond.
“The Series C financing will enable us to consolidate our strategic positioning, construct our manufacturing facility with global regulatory standard, move several projects into the clinic, and accelerate the creation of a new technology platform that will give Chance additional drug development capabilities.”