US-based small molecule therapeutic developer JDP Therapeutics has raised up to $17m in a series A round led by China-headquartered pharmaceutical company CoSci Med-Tech Co.
JDP is developing treatments for serious diseases for use in hospitals and clinics, experimenting with unique dosage forms, formulations or new indications for already proven chemical entities, which it claims reduces risk and shortens the drug development process.
The funding will be used to advance its lead drug candidate, JDP-205, through phase 3 trials and the filing of a New Drug Application through to regulatory approval. JDP-205, an injectable product that will treat acute allergic reactions in hospitals, has already passed through phase 2 trials.
Jie Du, chief executive and president of JDP Therapeutics, said: “We are delighted to attract CoSci as our investor, which provides the capital for JDP to complete the final development work in the US and Canada for JDP’s lead product JDP-205.
“With CoSci’s involvement, JDP has a strong partner in China, further expanding JDP’s global market reach from the original US, Canada, EU and Australia territories to the Far East.”
JDP had previously raised about $700,000 in debt and equity, according to regulatory filings.