Resproly, a China-based developer of inhalation-focused therapeutics and medical devices that counts corporates Shanghai Kindly Enterprise Development and Gree as investors, has secured nearly RMB200m ($31m) in series B funding, DealStreetAsia reported yesterday.
The round was led by CAS Investment Management, a subsidiary of CAS Holdings, itself owned by Chinese Academy of Sciences. It included YuanBio Venture Capital, Cowin Capital, Qianhai FOF, Tianfeng Capital and Efung Capital.
Founded in 2018, Resproly is working on inhaled drugs and related devices for conditions such as asthma and chronic obstructive pulmonary disease. The company will use the money to expand its pipeline as it looks to enter two to three programmes into clinical trials in the next two years.
Huaige Capital led Resproly’s $7m series A round in mid-2019, with participation from Gree Financial Investment, a vehicle for appliance manufacturer Gree, as well as medical polymer producer Shanghai Kindly and Yanghe Capital.
The original version of this article appeared on our sister site, Global University Venturing.