PR90297

NANJING, China, June 25, 2021 /PRNewswire=KYODO JBN/

Triastek, Inc. (Triastek), a global leader in 3D printed pharmaceuticals, has

completed its Series B financing, raising US$ 50 million (RMB 330 million).

This round of investment was co-led by Matrix Partners China and CPE, with

participation from Shanghai Sci-Tech Innovation Center Capital (SSICC) and

existing investors, Morningside Ventures, Dalton Venture and Yunqi Partners. In

addition to supporting the ongoing development of the first IND-approved

product in clinical trials, the proceeds will also be used to expand the 3D

printed drug product pipeline and advancing Triastek's vision of creating a new

era of global intelligent pharmaceutical manufacturing.

Triastek co-founder and CEO Dr. Senping Cheng said, "We appreciate the support

from Matrix Partners China, CPE, SSICC and our existing shareholders. It is

Triastek's unrelenting goal to develop cutting-edge therapeutics that address

unmet patient needs, revolutionize pharmaceutical manufacturing and improve

human health. We will leverage the advantages of 3D printing of pharmaceuticals

as a digital manufacturing technology and incorporate emerging technologies

such as artificial intelligence to lead off a new era in advanced, intelligent

pharmaceutical manufacturing."

Matrix Partners China partner Dr. Eric Yu added, "Triastek's breakthrough 3D

printing pharmaceutical technology platform can create almost all types of

target drug release profiles. We are optimistic that in the future, through its

technology platform, Triastek will continue to bring forth innovative drugs for

patients with unmet clinical needs. "

CPE executive director Jing Wu commented, "We have always been focused on

emerging technologies in the field of pharmaceutical development. We firmly

believe that Triastek's 3D printing pharmaceutical technology will be a

platform with global influence and become a development and manufacturing

leader for the whole industry. Triastek's contributions will accelerate the

realization of digitization and intelligent manufacturing across the

pharmaceutical industry."

SSICC executive vice president Dr. Zhide Yuan said, "Triastek has

multidisciplinary teams in pharmaceutical sciences, mechanical engineering,

material sciences, etc.,rich experience in pharmaceutical manufacturing and

strong interdisciplinary execution ability. We are optimistic about the

company's technology and team capabilities and look forward to more extensive

application of the company's technology in drug R & D and production."

Founded in 2015 as the first 3D printing pharmaceutical company in China,

Triastek is committed to building a novel 3D printing pharmaceutical technology

platform with its comprehensive proprietary technologies encompassing dosage

form design, digital pharmaceutical product development, and intelligent

manufacturing. With its proprietary Melt Extrusion Deposition (MED(R)) 3D

printing technology, the company is the first Chinese pharmaceutical company to

be accepted into the US FDA's Emerging Technology Program. Triastek's

technology provides customized solutions for most oral solid dosage forms.

Compared to the traditional iterative drug development process and tablet

compression methods, MED 3D printing provides a paradigm shift in

pharmaceutical product development and manufacturing. The versatility of the

tablet structure resulting from 3D printing technology permits precise and

programmed control of the drug release profile, thereby optimizing the PK

profile of new and existing drug products.

Using MED 3D printing technology, Triastek has built a product pipeline

including new formulations and new combination product candidates intended to

meet specific clinical needs and thereby improve drug therapy outcomes. In

January 2021, the company received IND approval from the US FDA for its first

product T19, being developed for the treatment of rheumatoid arthritis. The

company's second product T20 received positive pre-IND feedback from the US FDA

in March 2021 and an IND application submission for T20 is planned for the end

of this year.

In addition to the development of in-house products, Triastek is collaborating

with leading multinational and Chinese pharmaceutical companies to explore a

variety of application scenarios for the MED 3D printing technology, such as

developing formulations to provide solution for the poor water soluble new

chemical entities as well as extending the lifecycle of approved/developed

products. Through these collaborations, Triastek provides a significant value

proposition for partner companies through the development of novel, unique and

competitive pharmaceutical products in combating the challenges of

developability of new compound and fine-tuning PK profile in early product

development to shorten the time for human study.

For more information, please check: https://www.triastek.com

Source: Triastek, Inc.