Triastek Closes US$ 50 Million Series B Financing, Co-led by Matrix Partners China and CPE
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.
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