Zhongshan RabPharma Biopharmaceutical Co., Ltd. (“RabPharma”) recently has announced the completion of the Series A+ funding of hundred millions CNY.
RabPharma is a biopharmaceutical company dedicated to independent research and industrialization of innovative bone health drugs, proficient in the research and development of innovative drugs for bone and joint diseases. It has multiple heavyweight product pipelines, covering fields such as bone necrosis, bone tumors, osteoarthritis, osteoporosis, etc. The company is positioned to focus on the global first-in-class new drug research and development in the field of bone and joint diseases.
According to RabPharma, its multiple products are in the preclinical development stage for the treatment of related bone and joint diseases. Its first product, RAB001, for the treatment of bone necrosis, has completed Phase I clinical trials in China and the United States, and is expected to become the world's first targeted class I new drug for the treatment of bone necrosis, filling the gap in the field of bone necrosis treatment.
According to Mordor Intelligence, the global number of osteonecrosis patients has exceeded 30 million, with over 10 million osteonecrosis patients in China. The compound annual growth rate is expected to reach 6.2 % from 2023 to 2030. This growth is driven by the rise in the geriatric population, the growing demand for non-invasive treatment, and technological advancements for a better treatment for osteonecrosis.
In addition to RabPharma, many companies are competing in the osteonecrosis treatment market, such as Novartis in Switzerland, Pfizer, Mylan, Zimmer Biomet, Merck & Co. and Enzo Biochem in the United States, and Teva in Israel.
Wei Yao, Chief Scientist of RabPharma, stated: “RabPharma has always been driven by innovation, focusing on its own advantages in the field of independent research and development of innovative drugs for bone and joint diseases. We are committed to providing more and better treatment options for patients and insist on differentiated clinical research and development. This round of financing will greatly assist our product research and development process, we will continue to promote the development of other pipeline projects, to better achieve the simultaneous listing of new drugs at home and abroad.”
This round of financing for RabPharma was exclusively invested by Hecheng Zhiyi Capital (和诚智益资本), with follow-on investment from Baiyangzhongxin (百洋众信), Zhongshan VC (中山创投), and Yihao Investment (一豪投资). This round of funds will mainly be used to accelerate the development of clinical and preclinical innovative drugs in the bone and joint fields, encourage team building, and improve the company structure.