A leading Chinese venture capital firm, BCVF (formally known as BioVeda China, and headquartered in Shanghai) has invested over $7.3M (RMB 45 million) in a joint venture clinical stage pharmaceutical company set up by Suzhou Ribo Life Science Co., Ltd (located in Tsinghua Science Park, Kushnan City, China) and Quark Pharmaceuticals Inc. (based in Freemont, California). The newly established entity – Kunshan RiboQuark Pharmaceutical Technology Co., Ltd. – or “RiboQuark”, announced the Series A funding will be primarily used to accelerate the clinical development of an in-licensed Quark compound, QPI-1007, which will enter global phase III studies for the treatment of non-arteritic anterior ischemic optic neuropathy (NAION) in addition to testing in a pilot phase II study in acute angle closure glaucoma. NAION is a currently incurable orphan disease with extremely high unmet medical need.
Chinese venture capital group invest >$7.3M in siRNA technologies targeting ocular conditions.
- by swdadmin