Sciwind Biosciences, a Hangzhou, China and San Francisco CA-based clinical-stage biopharmaceutical company, raised $70M in Series C funding.
The round was led by Financing Supported by IDG Capital, Loyal Valley Capital and LYFE Capital.
Led by Dr. Hai Pan, Founder and CEO, Sciwind Biosciences is a clinical stage biopharmaceutical company focusing on discovering and developing innovative therapies to treat metabolic diseases. Its product pipeline consists of potentially first-in-class and best-in-class drug candidates. Sciwind also developed multiple proprietary technologies, including oral peptide and inhaled protein therapeutics delivery platforms and has identified multiple drug candidates based on these core platform technologies.
The company intends to use the funds to advance clinical development of its proprietary GLP-1 receptor agonism candidates and anticipates the following development milestones from the three lead programs:
- XW003 (a long-acting GLP-1 peptide analog optimized for improved biological activity, cost-effective manufacturing, and once weekly administration): top-line data from on-going Phase 2 trials in type 2 diabetes and obesity patients are expected in the second half of 2022.
- XW004 (an oral formulation of GLP-1 peptide analog XW003 suitable for once daily oral administration): on-track to enter Phase 1 clinical trials in Q4 2021 with top-line data expected in the second half of 2022.
- XW014 (a small molecule GLP-1R agonist with the potential to be dosed orally once daily): anticipated to enter Phase 1 clinical trials in the first half of 2022.