Chance Pharmaceuticals Completes Series C+ Funding to Advance Innovative Pipeline and Business Collaborations
HANGZHOU, China, Jan. 04, 2022 (GLOBE NEWSWIRE) — Chance Pharmaceuticals (“Chance”), a clinical-stage biotechnology company focusing on discovering, developing, and commercializing inhalation therapies for debilitating diseases, announced today the completion of a Series C+ financing led exclusively by new investor Fortune Venture Capital. The new funds will be used to advance the company’s pipeline of innovative inhalation therapies and business collaborations.
“As a unique delivery platform, inhalation therapies have certain advantages and great market potential,” commented Mr. Shen Qi, a Partner of Fortune Capital. “Chance Pharmaceuticals is a leader in inhalation therapy with expertise in developing drug/device combination products led by an experienced management team. We are very optimistic about the company’s ability to develop innovative inhalation products and look forward to the company’s efforts to bring those products to market for the benefit of underserved patients.”
“After completing a successful Series C round in October 2021, we are thrilled to have Fortune Venture Capital as a strategic investor in our C+ round. In addition, we are grateful that our investors have strong confidence in our future developments,” said Dr. Donghao Chen, founder and CEO of Chance Pharmaceuticals. “The Series C+ financing will enable us to move more aggressively in accelerating the clinical development of our innovative pipeline and external business collaborations.”
About Hangzhou Chance Pharmaceuticals Co. Ltd.
Chance Pharmaceuticals is a clinical-stage biotechnology company focusing on discovering, developing, and commercializing inhalation therapies for debilitating diseases such as chronic obstructive pulmonary disease, asthma, pulmonary arterial hypertension, and central nervous system disorders. For more information, please visit http://www.chancepharmaceuticals.com.
About Fortune Venture Capital
Fortune Venture Capital is one of China’s most influential venture capital firms, regularly ranked among the top-performing VC/PE firms. With an AUM of RMB 36 billion, it has invested in more than 600 companies, including the well-known Air Eye Hospital Group and CanSino Biologics. In addition to providing capital, Fortune Venture Capital provides its investee companies with personalized, value-added services.
Contact Information:
Hangzhou Chance Pharma
Guobao Zhao
Zhaoguobao@chancepharmaceuticals.com
+ 86 571-8630-9565
Goby Global
Bob Ai
bai@gobyglobal.com
+ 1 646-389-6658
