(Left: Zhang Min, Chairman of Mengyang Pharmaceutical, Right: Yang Weidong, Chairman of Jifan Capital.)

Recently, Hubei Mengyang Pharmaceutical Co., Ltd. (hereinafter referred to as "Mengyang Pharmaceutical") announced the completion of a round of financing of 80 million yuan, which was led by Jifan Capital, which has been focusing on the field of biomedical investment.

Since its establishment, Mengyang Pharmaceutical Co., Ltd. has been committed to excavating the treasures of traditional medicine of the motherland and developing the classic prescriptions of famous and old Chinese medicine and the active ingredients derived from natural medicines into drugs that meet clinical needs. At present, there are a number of projects under development, and the R&D pipeline covers tumor treatment-related diseases such as elevated white blood cells, liver protection, heart protection, platelet elevation, and cancer-related fatigue.  

The financing will be mainly used to promote the phase II clinical study of DH001, the world's first oral cardioprotective agent (reducing doxorubicin cardiotoxicity), a small molecule class I new drug under development, and to carry out the IND application in the United States and the construction of Mengyang Pharmaceutical's innovative drug R&D and industrialization base.

Doxorubicin is a milestone in the development of medical oncology and has been widely used in clinical practice, but its serious cardiotoxicity has been plaguing clinicians and patients. DH001 is an effective monomer found in traditional Chinese medicine in China, which can prevent and reduce the incidence and severity of cardiotoxicity caused by doxorubicin by improving cardiac function, and is suitable for tumor patients treated with doxorubicin.

DH001 completed a Phase I clinical trial in January 2022, and the trial data showed that DH001 had no dose-limiting toxicity and no serious or important adverse events, demonstrating the good safety and tolerability of DH001. At the same time, the study evaluated the pharmacokinetic parameters of different doses of DH001 in single and multiple doses in healthy adult subjects, and the results showed that its absorption and utilization exceeded expectations, laying a solid foundation for the phase II clinical study.

Dr. Min Zhang, Chairman of Mengyang Pharmaceutical, said:

"I am very grateful to investors for their favor and support to Mengyang Pharmaceutical, I believe that this round of financing will help to rapidly promote the clinical trials and products of DH001, so that more cancer patients can benefit, and also provide strong support for the research and clinical promotion of the company's follow-up projects, and the construction of the company's R&D talent team.

Yang Weidong, Chairman of Jifan Capital, said:

"The partners of Jifan Capital have always insisted on investing in the field of biomedicine, looking for innovative companies with real core competitiveness and development potential for long-term layout. This time, a special fund was set up to invest in Mengyang Pharmaceutical's layout of the treatment of tumor-related diseases. It is not only optimistic about Mengyang Pharmaceutical's layout of a series of forward-looking technologies, pipelines and products around the "field of tumor treatment-related diseases". At the same time, we are also optimistic about Mengyang Pharmaceutical's management team and commercialization capabilities, with a clear positioning and clear track, and we look forward to this round of investment to help the company achieve greater breakthroughs in the field of cancer treatment-related diseases as soon as possible and benefit the majority of cancer patients." ”