Shaanxi Micot raises fresh funds to back lead peptide in Phase II

Chinese biotech Shaanxi Micot has raised over 100 million renminbi ($14 million) in a series D round to help advance its lead peptide candidate for endocrine disease, building on earlier funding for its cardiovascular pipeline.

The latest round was led by Zheshang Venture Capital and follows a $15 million series C financing that supported development of Micot’s anti-clotting candidate MT-1011. Founded in 2007 and based in Xi’an, the privately-held company specializes in peptide-based and small molecule drugs targeting cardiovascular, liver, and metabolic disorders.

At the core of Micot’s current pipeline is MT1013, a bispecific peptide designed to mimic osteogenic growth peptide and act as a calcium-sensing receptor (CaSR) agonist. The drug is being tested in a Phase II trial in patients with chronic kidney disease and secondary hyperparathyroidism who are on dialysis. The company is running a multicenter, randomized, placebo-controlled trial in China.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK