By Danni Yin
Yizhong Pharma raised RMB1.03 billion ($160 million) on Shanghai’s STAR board on Sep. 9 in hopes of moving its core product paclitaxel-loaded micelles to NDA and commercialization.
Backed by Sinolink Securities, the company issued 26.45 million shares at RMB38.1 apiece. Its share price rose 28.58% on the same day to close at RMB49.
Established in 2009, Yizhong is focused on developing modified anti-tumor drugs with its core technologies in the synthesis of nano drug carriers and pharmaceutical polymeric excipients.
Its lead candidate, paclitaxel-loaded micelles, has completed a phase III study as the first-line treatment of advanced non-small cell lung cancer. Yizhong submitted the NDA application to the NMPA in July 2019 and expects the approval to come in the third quarter of 2021.
A chemotherapy drug, paclitaxel has vast market potential in lung, breast, stomach and ovaries cancer. After the approval for NSCLC, Yizhong plans to carry out new indication studies of paclitaxel-loaded micelles.
Other notable candidates include docetaxel micelles and cabazitaxel micelles, both of which are modified formulations of new nano-delivery systems. The two candidates are in preclinical stage and expected to enter clinical trials between 2023 and 2024.