Hangzhou-based Chance Pharmaceuticals announced today the successful completion of a new financing round that will accelerate the development of its innovative inhalation therapies pipeline. The funding, with participation from Heda Health Fund and Qihang Venture Capital, will primarily support the advancement of Phase III clinical trials for the company's lead candidate, CXG87.
The investment comes at a critical juncture for the clinical-stage biotechnology company as it prepares to advance its improved formulation of budesonide/formoterol inhalation powder through late-stage development. Financial details of the transaction, which was exclusively advised by Lighthouse Capital, were not disclosed.
Dr. Donghao Chen, Founder and CEO of Chance Pharma, emphasized the significance of this milestone: "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."
Proprietary Technology Platform Drives Innovation
Chance Pharma's development efforts are built upon two core technology platforms: milling and mixing, and spray drying. The company's proprietary spray drying platform enables the transformation of biological macromolecules, low-activity drugs, and compounds requiring deep lung or systemic delivery into highly efficient dry powder inhalation formulations.
"The funding will strengthen our innovative inhaled drug development capabilities, anchored by our proprietary spray-dried formulation platform," Dr. Chen noted. "Moving forward, we will continue to leverage our unique technological expertise to address unmet clinical needs."
Manufacturing Capabilities Support Development Pipeline
The company operates state-of-the-art production facilities that comply with FDA and EMA quality standards, highlighting its integrated approach to both R&D and manufacturing. This infrastructure positions Chance Pharma to advance its diverse portfolio targeting respiratory diseases, central nervous system disorders, and fibrotic conditions.
Chance Pharmaceuticals' business strategy combines independent innovation with strategic partnerships to develop its pipeline. The company aims to "deliver safe, efficacious, and cost-effective treatment options to patients worldwide," according to Dr. Chen.
CXG87: Addressing Respiratory Disease Management
While specific details about CXG87's clinical profile were not disclosed, the therapy represents an improved formulation of budesonide/formoterol, a well-established combination therapy for asthma and chronic obstructive pulmonary disease (COPD). The original combination is known for its dual bronchodilator and anti-inflammatory effects.
Respiratory diseases represent a significant global health burden. According to the World Health Organization, approximately 262 million people worldwide suffer from asthma, while COPD affects an estimated 384 million individuals globally. Improved inhalation therapies could potentially offer better disease management for these patient populations.
Future Directions
Beyond CXG87, the new funding will support the development of several other innovative inhalation powder formulations in the company's pipeline. Chance Pharma has indicated plans to foster collaborations with domestic and international partners to further expand its therapeutic reach.
The company's focus on dry powder inhalation (DPI) therapies aligns with growing market demand for more effective and convenient respiratory treatments, particularly as global respiratory disease burden continues to increase.
