20 Jul, 2018
On July 20, 2018, InnoCare announced an agreement between Beijing InnoCare Pharma Tech Co., Ltd., Guangzhou Development Zone, and its subsidiary Guangzhou Kaide Technology Development Co., Ltd. (Kaide Technology) to establish Guangzhou InnoCare Pharma Tech Co., Ltd., a development center with advanced international standards. Dr. Jisong Cui, co-founder, Chairman, and CEO of InnoCare, said: “We are very pleased to establish the InnoCare Guangzhou Development Center with the Guangzhou Development Zone. It is an important milestone for InnoCare to expand from R&D to manufacture. With China’s aging population, we are in urgent need of more innovative therapies for cancer and autoimmune diseases. The establishment of the InnoCare Guangzhou Development Center will accelerate InnoCare’s innovation in developing more effective and affordable medicines for China and the world.” With a total investment of over 2 billion RMB, the Guangzhou Development Center will cover about 20 acres. Its design, which will meet the GMP requirements of US, Europe, and China, will support InnoCare’s needs from clinical trials to commercial production. The head of the Guangzhou Development Zone Management Committee said: “Guangzhou will further improve and expand the landscape of the biomedical industry. The successful establishment of InnoCare’s facility is of great importance to us and will help Guangzhou build a world-class innovative pharmaceutical industrial cluster. Guangzhou, in-line with the rapid development of InnoCare, will give its strong support to all aspects including fund-raising, management services, and creating a prolific business environment. About InnoCare InnoCare is an emerging biotech company focused on the innovation of novel drugs for immuno-oncology/targeted therapy and autoimmune diseases. Though rooted in China, InnoCare’s mission is to become a global leader in providing patients with safe, effective, and affordable treatments for cancer and autoimmune diseases. Autoimmune diseases, such as rheumatoid arthritis and systemic lupus erythematosus, have high incidence in the China and lack effective treatments. InnoCare combines internal R&D, licensing-in, and international collaboration to drive the development of Best-in-Class drugs. About Guangzhou Kaide Technology Development Co., Ltd. Founded in 1998, Guangzhou Kaide Technology Development Co., Ltd. is a wholly state-owned company under the Guangzhou Development Zone. As the largest technology strategic shareholding platform in the Guangzhou Development Zone, Kaide Technology Co., Ltd. invests in “IAB” and “NEM” industrial projects, such as high-tech enterprises and advanced manufacturing industries. At present, Kaide Technology’s portfolio includes Lejin Display (China) Co., Ltd., BeiGene Bio-Pharmaceutical Co., Ltd., and Xintongyuan Industrial Internet Innovation Center (Guangdong) Co., Ltd. As the director unit of Guangzhou Urban Block Chain Industries, Kaide Technologies will facilitate the development of Guangdong’s block chain industry.
18 Jul, 2018
On July 18, 2018, InnoCare’s ICP-192 was approved for clinical trials by the State Drug Administration. ICP-192, a new class of innovative medicine developed by InnoCare subsidiary Tiancheng Pharmaceuticals, marks the third drug candidate approved for clinical trials in one year. Gastric cancer is the second most common malignant tumor in China, with most patients being diagnosed at the advanced stages. New therapeutic options are needed for advanced-stage patients and those who have become intolerant to standard of care treatments. ICP-192 has an innovative design based on structure-activity optimization. It has shown good safety profile and efficacy in multiple solid tumor animal models. Dr. Jisong Cui, CEO of InnoCare, said: “InnoCare sticks to its mission and strives to provide patients with better therapeutic options. China’s national policies have greatly encouraged innovation. Our R&D team will seize this opportunity to continuously introduce more and better innovative drugs for the benefit of the world.”
07 May, 2018
On April 17, 2018, InnoCare’s innovative R&D department achieved a new milestone when ICP-105, a class 1 chemical drug, was approved for clinical trials by the State Food and Drug Administration. ICP-105, which was jointly developed by its two subsidiaries, Tianyin Jianhua and Tiancheng Pharmaceuticals, has become InnoCare’s second drug candidate to be approved for clinical trials in just 4 months. Globally, more than 780,000 new cases of liver cancer are diagnosed every year. China has 395,000 new cases annually, with 80% of these patients already in advanced stages. ICP-105, a class 1 innovative drug, is a specific FGFR4 inhibitor with high target selectivity, novel chemical structure, and good drug-like properties. It is expected to have excellent efficacy in solid tumors, such as liver cancers with abnormal FGFR4 signaling. Dr. Jisong Cui, CEO of InnoCare, said: “InnoCare is an innovative drug research and development company. Our R&D team and one-stop new drug R&D platform will continue to introduce more and better innovative drugs, which are urgently needed in the community. With the support of innovative technology, regulatory policy for new drug approval, InnoCare will continue to provide patients with better treatment options." About ICP-105 ICP-105 is a highly specific FGFR4 inhibitor that has been shown to have excellent target selectivity and good drug-like properties. It has significant anti-tumor effects in animal models of hepatocellular carcinoma with abnormal FGFR4 signaling. It is expected to provide safer and more effective treatment for patients with liver cancer.
Beijing InnoCare completed a financing of US$55 million: Promoting innovation in the development of new drugs to meet the needs of Chinese patients
06 Feb, 2018
On February 6, 2018, Beijing InnoCare Pharma Tech Co., Ltd. (hereinafter referred to as “InnoCare”) announced the completion of financing of US$55 million. This round of investment was led by Vivo Capital and the original shareholder, Shanghai Jianxin Capital. InnoCare is an innovative biotech company rooted in China with a global vision, focusing on the development of innovative drugs for targeted therapy, immuno-oncology and autoimmune diseases. The company's core R&D team consists of members from the world's top 500 companies, such as Pfizer, Bristol-Myers Squibb, Merck, Johnson & Johnson, Bayer, and other top international pharmaceutical companies, and includes well-known scientists from Tsinghua University and Peking University. InnoCare’s Scientific Advisory Board is composed of experts in new drug development and clinical research. InnoCare has a one-stop, full-featured new drug research and development center in Beijing and Nanjing. It has a rich drug research and development pipeline covering a wide range of cancer and autoimmune disease treatment fields. InnoCare’s mission is to use the latest science and technology to discover new drugs that provide safe, effective, and affordable patient treatments. It is expected that a number of new drug products will be put on the market in the future. ICP-022 is a class 1 new drug candidate compound with wholly owned global intellectual property rights. It has completed the phase I clinical trial in Australia and has been approved by the China Food and Drug Administration. Currently, InnoCare has launched a multi-center, multi-indication clinical study. Many other candidate compounds in the company's R&D pipeline are in the IND enabling and clinical research stages. The funds raised in this round of financing will be used to promote clinical trials of multiple projects and to speed up the advancement of drug candidates into clinical studies and to the market. The primary goal is to alleviate China’s growing medical needs and provide patients with better options both at home and abroad. Dr. Jisong Cui, co-founder, Chairman and CEO of InnoCare, said: “At present, we have a number of new drug candidates with wholly-owned intellectual property rights that are or will be under clinical trials. InnoCare’s one-stop R&D platform will continue to provide those patients suffering cancer and autoimmune diseases with innovative medicines that are both highly effective and safe. We are very pleased that InnoCare can be recognized by Vivo Capital. The funds will be used to support clinical development, giving us the opportunity to deliver better drugs to patients in need. By the end of 2018, InnoCare is expected to have milestone clinical trial results as well as 2 to 3 new drug candidates. We will continue to further strengthen our pipeline." Vivo Capital Management Partner and Global Co-CEO Fu Shan said: "We are very honored to be an investor in InnoCare's current round of financing. Vivo Capital has been focusing on investing in high quality companies in the life sciences and health fields, and InnoCare is an innovative and promising new drug discovery platform company, which is in line with our investment philosophy. We look forward to sharing our experience and resources with InnoCare in the next few years to help InnoCare grow into a world's leading innovative drug research and development company." About Vivo Capital Founded in 1996, Vivo Capital is committed to investing in and establishing high-quality companies in the life sciences and health care sectors in the US and China. Vivo Capital manages more than $1.8 billion in funds, and discovers and invests in potential companies through a unique multi-angle investment strategy. In the United States, Vivo mainly invests in companies with innovative therapeutic products. In the Greater China region, it focuses on life sciences and healthcare industry companies that are entering the growth stage. Vivo Capital has offices in Palo Alto, California, and Beijing, Shanghai and Taipei in Greater China. About Shanghai Jianxin Capital Shanghai Jianxin Capital is a venture capital fund specializing in the pharmaceutical and health industry. It has a professional biomedical investment team with rich experience in the medical and financial fields, and forward-looking investment layout based on industry trends for enterprises and investors.
19 Dec, 2017
On December 19, 2017, ICP-022, an innovative pharmaceutics with wholly-owned intellectual property rights, was approved by the State Food and Drug Administration (CFDA) for clinical trials against systemic lupus erythematosus (SLE) and rheumatoid arthritis. Autoimmune diseases such as SLE and RA are serious threats to human health. More than 2 million Chinese patients still lack effective treatments. ICP-022 is a highly specific BTK inhibitor with excellent efficacy in SLE and RA models. It has shown good tolerance and safety in phase I clinical trial on healthy subjects in Australia. It is expected to provide safe and effective treatment options for patients with SLE and RA. Dr. Jisong Cui, co-founder, chairman and CEO of InnoCare, said: “The clinical trial of ICP-022 has been approved, which means that the first research product from InnoCare, which was established 2 years ago, will soon enter clinical development in China. The reform of domestic pharmaceutical policy and the steady growth of the pharmaceutical market are crucial to the development of InnoCare. We are very happy to receive this approval and look forward to officially launching the clinical research of ICP-022 in mainland China." About ICP-022 ICP-022 is a highly specific BTK inhibitor with excellent kinase selectivity and drug-like properties. Good safety and pharmacokinetic properties have been shown in clinical trials in Australia. It has good prospects for the treatment of autoimmune diseases.