Angitia Biopharmaceuticals’ Post

Angitia Biopharmaceuticals Announces Completion of $46M Series B Extension Financing - Funding supports global clinical development of Angitia’s innovative drug candidates for musculoskeletal diseases. Angitia Biopharmaceuticals announced the closing of a US$46M Series B extension financing led by Morningside Group, and syndicated by 3H Health Investment, OrbiMed, Yonghua Capital, Legend Capital, Oriza Holdings and Elikon Venture. The Series B extension financing brings the total size of the funding round to US$170M. Proceeds from the financing will be used to accelerate the global development of Angitia’s innovative drug candidates for musculoskeletal diseases including AGA111, AGA2115 and AGA2118. "The support from these renowned life sciences investors is a testament to our team, science and pipeline,” said David Ke, M.D., Founder and CEO of Angitia. “We are eager to advance our pipeline of novel biologics to potentially address the large unmet medical needs of patients with serious musculoskeletal diseases, an area that deserves greater investment and innovation in new therapeutic approaches.” "Angitia continues to display impressive track records including building a superior international team and meeting key milestones for its pipeline molecules,” commented Morningside Group Dr. Lu Huang. “The global market for the treatment of musculoskeletal disorders is large and growing, especially as the population ages. We look forward to supporting Angitia team in advancing its exciting pipeline to address these major opportunities.” “In this aging society, the market value of musculoskeletal drugs will continue to increase. Angitia’s diversified therapeutics, backed by in-depth knowledge and thorough understanding of innovative drug development, could potentially enable patients to recover from serious musculoskeletal disease,” commented by Dr. Minchuan Wang, 3H Health. “We are delighted to support Angitia in developing its novel therapies for patients worldwide, which we believe will help people live higher quality and longer lives.” "OrbiMed invests in companies turning innovative discoveries into new therapies which meet significant unmet clinical needs. Angitia is well positioned to advance its pipelines and to build a leading company in global musculoskeletal therapeutics,” said Dr. David Guowei Wang, OrbiMed. “Since participating in Series A financing, we are excited to witness Angitia’s critical milestones and achievements. We believe Angitia will continue to rapidly develop therapeutics for important musculoskeletal diseases.” For more details: https://lnkd.in/d2yPdt2B