Hua Medicine Raises $25 Million for Phase II Trials of Diabetes Drug

Hua Medicine Ltd. of Shanghai has closed a $25 million Series B financing. With the new funds, the company will begin a Phase II clinical trial of its lead asset, HMS5552 (Sinogliatin), a novel 4th-generation glucokinase activator (GKA) for Type 2 diabetes. Hua in-licensed global rights to Sinogliatin from Roche  three years ago. Hua will also begin a Phase I trial of the molecule in the US this year, with plans to complete the trial before year end. Hua was formed in 2011 with an initial Series A round of $50 million. More details.... Stock Symbol: (SIX: ROG) Share this with colleagues: // //