Ocular drug developer Cloudbreak Therapeutics secures RMB180m new financing round

Ocular drug developer Cloudbreak Therapeutics has recently completed a new round of financing at RMB180 million, led by Chinese venture capital firm V-Capital.Yuanda Pharmaceutical, BOC International and Haoyue Capital poured money into the new round. In October 2018, the company secured its Series A of RMB 110 million by Huayi Capital exclusively.

Ocular drug developer Cloudbreak Therapeutics has recently completed a new round of financing at RMB180 million, led by Chinese venture capital firm V-Capital. Yuanda Pharmaceutical, BOC International and Haoyue Capital poured money into the new round. In October 2018, the company secured its Series A of RMB 110 million by Huayi Capital exclusively.

The proceeds will be mainly used to promote the clinical phase III of the core product CBT-001, as well as to promote other four ophthalmological drug pipelines that will soon enter clinical phase II, and to expand the R&D team of its Guangzhou base.

Founded in September 2015 in California, USA, Cloudbreak Therapeutics is a company focusing on ocular drug development. Cloudbreak’s core product, CBT-001, has completed the Phase II clinical development in the United States. Its indication is pterygium.

This is a common chronic inflammatory proliferative ocular surface disease, which usually occurs in the conjunctiva of the eye, gradually invading the cornea, causing astigmatism or blocking the pupil, resulting in decreased vision and even blindness. The global incidence rate is 10.2%, about 700 million patients.

The Cloudbreak Therapeutics management team has over 50 years of combined experience with ocular drug discovery and development.Prior to founding Cloudbreak Therapeutics, Dr. Jinsong Ni, the company’s founder and CEO was Scientific Director at Allergan for 15 years and Senior Scientist at Wyeth/Pfizer for 3 years.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/19/ocular-drug-developer-cloudbreak-therapeutics-secures-rmb180m-new-financing-round/.

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