The latest news, Jiangsu New Element Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "New Element Medicine") recently announced the completion of tens of millions of yuan of A + round of financing, led by preferred capital, Zhongyi Capital and other investments, funds will be mainly used Supporting the development of new elemental medicines for the treatment of gout new drugs in the world, as well as the development of other pipeline products. Prior to this, New Element Medicine completed the A round of financing in early 2017 and was exclusively invested by Kaitai Capital.
New Element Medicine is a Sino-US joint venture established in March 2012. It is a biopharmaceutical company with innovative drug research and development as its core, especially in the field of metabolic diseases. Its gout innovative drug has excellent efficacy and remarkable safety. Other advantages, such as anti-breast cancer and treatment of non-alcoholic fatty liver disease (NASH) and other fields also have a good layout.
According to Dr. Shi Dongfang, founder, chairman and CEO of New Element Medicine, there have been few breakthroughs in the field of gout in the past few decades. At present, the new elemental medicine 1.1 anti-gout drug ABP-601 has entered the US IND preparation and declaration stage, and its pre-clinical experimental results show that the drug's uric acid excretion effect in animals is far superior to any of the current ones. The listed drugs have no side effects such as liver, kidney, gastrointestinal tract and cardiovascular, and also have excellent drug-forming properties.
ABP-601 has excellent curative effect and high safety. This medicine may overcome the shortcomings of the current gout drugs and the long-term use of patients, and it is expected to enter the international and domestic markets. Dr. Shi said that we are very pleased to have the trust of many top domestic investment institutions to help us push innovative drugs with independent intellectual property rights to global clinical trials, with a view to ultimately benefiting gout patients.
Dr. Shi also said that in the research and development platform of new elemental medicine anti-gout drugs, in addition to promoting uric acid excretion drugs, it also involves the development of innovative drugs to inhibit uric acid production. At the same time, the company's pipeline products include innovative drugs for breast cancer and treatment of NASH, some of which are about to enter preclinical or clinical research.
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