Chance Pharmaceuticals (“Chance Pharma”), a clinical-stage biotechnology company dedicated to the research and development of innovative inhalation therapies, today announced the successful completion of a new round of financing. Heda Health Fund and Qihang Venture Capital participated in this round. The proceeds will support the advancement of Phase III clinical trials for CXG87, an improved formulation of budesonide/formoterol inhalation powder, as well as the development of several innovative inhalation powder formulations. Lighthouse Capital acted as the exclusive financial advisor for this transaction.
Dr. Donghao Chen, Founder and CEO of Chance Pharma, commented, “We are deeply grateful to our investors for their trust and support. This financing marks a pivotal milestone for Chance Pharma as we enter a critical phase. The funding will significantly accelerate the Phase III clinical trials of CXG87, a product with great clinical and commercial potential. Furthermore, it will strengthen our innovative inhaled drug development capabilities, anchored by our proprietary spray-dried formulation platform. Moving forward, we will continue to leverage our unique technological expertise to address unmet clinical needs, foster collaborations with domestic and international partners, and deliver safe, efficacious, and cost-effective treatment options to patients worldwide.”
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