Home>News>Frontier Biotechnologies (Nanjing) Inc. Announced Completion of 300 Million Yuan C Financing

Frontier Biotechnologies (Nanjing) Inc. Announced Completion of 300 Million Yuan C Financing

  • 2017-01-17  10:55:39

On December 31, 2016 in Nanjing, Jiangsu,  FRONTIER BIOTECHNOLOGIES, INC.(“Frontier Biotech”) announced completion of 300 million yuan C financing. This investment was led by Huaxin Century Investment Group Co., Ltd. (abbreviated as “Huaxin Century”)  and funded jointly by Shenzhen Capital Group Co., Ltd. (abbreviated as “SCG”) and Shenzhen Yifeng Ruiyi Investment (abbreviated as “Yifeng Investment”) etc.. China Renaissance acted as the financial consultant.

Frontier Biotech is a research-based, clinical stage pharmaceutical company utilizing cross-Pacific drug discovery and development business model. Frontier Biotech leverages China's large patient population, and rapid growing economy and pharmaceutical market, develops innovative pharmaceutical products with worldwide IP protection and to be marketed in the near future. Frontier Biotech is dedicated in the discovery, development and commercialization of innovative therapeutic products for unmet medical needs and under-served patients. Their lead product candidate, Albuvirtide, is a treatment-paradigm shifting long-acting HIV fusion inhibitor for the treatment of HIV infection and AIDS. An NDA was accepted by Chinese FDA in July 2016. Albuvirtide could become the first long-acting anti-HIV new drug worldwide.

Dr. CJ Wang, the president and general manager of the company, said that “The long-acting injection treatment can  bring more clinical benefits to people infected with HIV than oral medication treatment,it is the leading trend of R&D for new anti-HIV drug worldwide. With 14-year efforts, we  are in the leading position in the world. Albuvirtide is the first original anti-HIV long-acting injection with accepted NDA in the world. The fast completion of C financing shows that the institutional investors have recognized the potential of Albuvirtide and core team of Frontier Biotechnologies. Due totight schedule, some investors missed this round of financing. However, as the company is entering the great industrialized and commercialized development stage, there will be numerous cooperation opportunities. Frontier Biotech would like to endeavor with the partners supporting innovative drugs, to accelerate Albuvirtide to launch in China and worldwideand to benefit all ofpeople suffering from HIV infection.”

The funds of C financing will mainly invest on Albuvirtide industrialization, market expansion, new products R&D and company operation.

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