Magpie Pharmaceuticals completes RMB100m Pre C round to accelerate R&D of innovative drug

Guangzhou-based Magpie Pharmaceuticals has recently announced the completion of Pre C round of financing, raising 100 million yuan, with joint participation from Zhejiang Conba Pharmaceutical, BOC Guangdong Finance and Canton Venture Capital.

Guangzhou-based Magpie Pharmaceuticals has recently announced the completion of Pre C round of financing, raising 100 million yuan, with joint participation from Zhejiang Conba Pharmaceutical, BOC Guangdong Finance and Canton Venture Capital.

This is another round of financing for Magpie Pharmaceuticals after completing the Series B round in 2019. The proceeds will be used to accelerate the development of the company’s clinical and preclinical projects.

Magpie Pharmaceuticals was established in Guangzhou in 2011. It is a clinical-stage First-in-Class global new drug research and development company, focusing on innovative therapeutic drugs for cardio-cerebrovascular and mitochondrial diseases with large market potential but not yet effectively met.

Relying on its unique new drug creation platform, Magpie has made in-depth layout in the fields of stroke, diabetic nephropathy, Parkinson’s disease, dementia, glaucoma and myocardial ischemia.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/26/magpie-pharmaceuticals-completes-rmb100m-pre-c-round-to-accelerate-r-d-of-innovative-drug/.

Leave a Reply

Please Login to Comment