- Final close brings the Series B Extension to US$86M in total -
Angitia Biopharmaceuticals, a global clinical-stage biotechnology company announces the completion of an additional US$40M Series B Extension financing in January 2024 led by YueKai Health, a market-oriented VC funded by GZHT Technology Holding and managed by Yuekai Capital. Combined with the US$46M Series B Extension financing completed in October 2023, Angitia has now raised US$86M in the Series B Extension. Proceeds from Series B Extension financing will be used to advance the global development of Angitia's innovative drug candidates addressing serious musculoskeletal diseases, including AGA2118, AGA2115 and AGA111.
"The support from YueKai is a testament to our team’s efforts and achievements in clinical pipeline advancement,” said David Ke, M.D., Founder and CEO of Angitia. “We continue to dedicate ourselves to bringing innovative therapies to help patients with serious musculoskeletal diseases. With this financing, we are well positioned to progress our breakthrough therapies further through the clinic.”
“The global market for the treatment of musculoskeletal disorders is large and growing, especially as the population ages. Angitia has in-depth knowledge and thorough understanding of global development of innovative musculoskeletal drugs.” commented Zhuoyue Li, General manager of YueKai Health Venture. “We look forward to working with the Angitia team in advancing its exciting drug candidates to be commercialized in global markets.”
Angitia previously announced a US$46M close of the Series B Extension led by Morningside Group, with participation from 3H Health Investment, OrbiMed, Yonghua Capital, Legend Capital, Oriza Holdings, and Elikon Venture.
About YueKai Health
YueKai Health Venture is a market-oriented VC with international vision and focusing on life science industry, funded by GZHT Technology Holding and managed by Yuekai Capital. GZHT Technology Holding is a strategic investment platform of Guangzhou Development District targeting the biopharmaceutical industry and the optoelectronic display industry. Yuekai Capital has obtained the dual qualifications of QDLP (Qualified Domestic Limited Partner) and QFLP (Qualified Foreign Limited Partnership). GZHT Technology Holding and YueKai Capital consistently embrace the concept of "Technology Finance & Mutual Benefit", concentrating in Value Investment and Industrial Empowerment, and assisting the high-quality development of enterprises and conjointly value identification.
About Angitia
Angitia is a clinical-stage biotechnology company focused on the discovery and development of breakthrough therapeutics that address key unmet medical needs in serious musculoskeletal disease. With the team’s experience and scientific expertise in novel drug development, Angitia is dedicated to bringing innovative therapies to help patients in need.
Learn more at www.angitiabio.com.
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