Shanghai Aike Baifa Biomedical Technology Co., Ltd. completed round a financing

Shanghai Aike Baifa Biomedical Technology Co., Ltd., a biomedical technology company specializing in the development of new drugs for respiratory virus infection and viral hepatitis, today announced the successful completion of round a financing This round of financing is led by Qiming venture capital and Chenxing venture capital, and invested by Taifu capital "We are very pleased to welcome new investors, Qiming venture capital and Chenxing venture capital, to invest in Aike Baifa, and to receive the continuous support from the current investor, Taifu capital," said Dr Wu Zheng, founder and CEO of Aike Baifa "This round of financing will provide financial support for the clinical research of our leading new anti respiratory syncytial virus (RSV) drug project and the further development of other early new drug research and development projects." The financing income will be mainly used to support the clinical research of ak0529, an innovative class 1.1 anti RSV new drug of Aike Baifa The new drug is currently in the phase 1 clinical trial stage, and will also be used to support the research and development of a number of pre clinical projects for hepatitis B virus (HBV) Phase 1 clinical trial of ak0529, a new anti RSV drug developed by Aike Baifa, is a randomized, double-blind, placebo-controlled oral drug study to evaluate the safety, tolerance and pharmacokinetics of single and multiple dose increments in healthy adult subjects "Ak0529 is expected to become the first choice of new drugs for anti respiratory syncytial virus based on its excellent drug properties," said Dr Wu Zheng, founder and CEO of Aike Baifa "After obtaining ak0529's global market authorization from Roche in February 2014, we completed all data handover, preclinical development and new drug clinical research application (ind) within 8 months In October last year, the drug has been in a well-known international clinical laboratory to carry out phase 1 clinical research Based on preclinical and existing clinical data, aikebaifa believes that k0529 is expected to become a first-line new drug for the treatment of RSV infection in infants and adults At present, there is no safe and effective specific drug against RSV infection on the market " Dr Stephen toovey, chief medical officer of Aike Baifa, commented: "every year, millions of children and adults around the world need to be treated for RSV infection New drugs are urgently needed to treat RSV infection In the completed single dose incremental study of clinical phase 1, ak0529 showed good safety We look forward to the publication of the results of the phase 1 clinical study in due course " Aikebaifa aims to develop ak0529 to meet the huge market demand of anti RSV infection drugs About respiratory syncytial virus (RSV), RSV is one of the most infectious human viruses, which infects 3-10% of the world's population every year It is the most common cause of acute lower respiratory disease in infants and children RSV infection is the main cause of death in children under 5 years old It is also the primary cause of lower respiratory tract infection (LRTI), bronchiolitis and infant hospitalization Globally, 34 million cases of lower respiratory tract infection occur every year, and up to 200000 children under the age of 5 die In the same number of elderly people with RSV infection, the proportion of severe lung infection and death is also high In addition, the high-risk population includes immunocompromised adults, patients with chronic lung disease, congenital heart disease, chronic obstructive airway disease (COPD), such as chronic bronchitis and emphysema, and the elderly There is no vaccine to prevent RSV infection and no specific drug for RSV At present, RSV infection is limited to adjuvant treatment About Qiming venture capital Qiming venture capital is a leading venture capital institution in China Qiming currently manages six funds with a total assets of US $1.6 billion, focusing on the investment of early and growing enterprises in Internet consumption, health care, information technology and clean energy industries About Chenxing venture capital, Chenxing venture capital is a diversified investment group established by the Chen family in Hong Kong in 1986 It is mainly engaged in private equity and venture capital investment The group has invested in North America, Europe and Asia Pacific, and began to invest in mainland China in 1992 Chenxing is an active investor in life technology About Taifu capital, Taifu capital is a venture capital institution focusing on investing in the early and growing enterprises of innovative technology in the pharmaceutical industry Its team has a long history and rich experience in investment and pharmaceutical R & D industry They are committed to helping startups become leaders in their respective fields About Shanghai Aike Baifa Biomedical Technology Co., Ltd Shanghai Aike Baifa Biomedical Technology Co., Ltd is a biotechnology company The company is located in Zhangjiang High Tech Park, the center of biomedical research and development in China Aike Baifa focuses on developing its own R & D projects and projects introduced from outside, and conducts clinical development trials in the Asia Pacific region Through these efforts, Aike Baifa is committed to promoting China to become an innovation center of global drug research and development.