Hyperway raises $14.9M Series B extension to push drug pipeline

What's the deal? Hyperway Pharmaceuticals has closed the first tranche of a Series B extension worth US$13.8M (roughly $14.9 million). Chengdu Future Industry Fund led the round, with Yufu High Quality Fund, Yingke Medical FundDealroom has a profile for this one. Try Dealroom →, and Hengdian Capital joining. Existing shareholder Penglai CapitalDealroom has a profile for this one. Try Dealroom → also contributed.

What's the endgame? Hyperway is a research-driven drug developer building platforms for small-molecule innovative drugs, high-end active pharmaceutical ingredients, and high-barrier generics.

Where's the money going? The company plans to advance clinical development of its innovative drugs and expand its product pipeline. It said the funds will accelerate development of core products and lay the groundwork for commercialising several candidates.

The signal: The extension round points to continued investor appetite for Chinese small-molecule drug developers, backed here by a mix of state-linked industry funds and specialist medical investors.

Read more: itjuzi.com

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