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Hua Medicine of Shanghai to Raise $200M to Support Novel Diabetes Drug

biospaceJanuary 16, 2018

Tag: diabetes drug , Hua Medicine

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Hua Medicine of Shanghai expects to spend $200 million over the next three years on its novel oral diabetes 2 treatment, dorzagliatin. The company will raise additional capital for the effort and then IPO, possibly in Hong Kong, S.A.R., China or the US. The funds will underwrite Phase III development of its GKA product and commercialization. Ultimately, Hua hopes dorzagliatin will generate annual revenues of $3 billion, a 15% slice of the China type 2 diabetes market, once the drug is approved. Hua expects China approval in 2020.

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