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Magpie Pharma Closes $14 Million Funding for Modernized TCM Drugs

publication date: Apr 22, 2020

Guangzhou Magpie Pharmaceutical closed a $14 million Pre-C funding round to support its portfolio of novel drugs based on modernized formulations of proven TCM drugs. It aims to discover drugs that are either best-in-class or first-in-class. The company's most advanced candidate is a nitrone triazine (TBN) treatment for ischemic stroke that is being tested in a Phase II clinical trial. Magpie hopes to have between four and six candidates in clinical tests within three years. The company's latest funding included Zhejiang Conba Pharma, BOC & UTRUST Fund and Canton Venture Capital. More details....

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