With CoSci’s involvement, JDP has a strong partner in China, further expanding JDP’s global market reach from the original U.S., Canada, EU, Australia territories to the Far East.
BLUE BELL, PENNSYLVANIA (PRWEB) June 28, 2016
JDP Therapeutics Inc., a privately held late stage specialty pharmaceutical company, today announced that it has secured up to $17 million Series A equity financing led by China based CoSci Med-Tech Co., Ltd.. Proceeds from the financing will be used to advance JDP’s lead product JDP-205 through its pivotal phase III clinical trial, NDA filing and approval.
Prior to this round of financing, JDP-205 had successfully completed phase I and II clinical trials, an end-of-phase-II FDA meeting, and FDA agreement on its pivotal phase III clinical protocol. JDP has also secured a commercial supply agreement for its JDP-205 product with a major pharmaceutical company. This round of financing will enable JDP to complete the remaining development activities, including the pivotal phase III clinical trial, CMC, NDA filing and FDA approval.
“We are delighted to attract CoSci as our investor, which provides the capital for JDP to complete the final development work in the U.S. and Canada for JDP’s lead product JDP-205. With CoSci’s involvement, JDP has a strong partner in China, further expanding JDP’s global market reach from the original U.S., Canada, EU, Australia territories to the Far East.”, said Jie Du, Ph.D., CEO and president of JDP Therapeutics.
JDP-205 is a proprietary injectable product being developed for the treatment of acute allergic reactions for the hospital market. A market QUANT study surveyed 110 physicians, and revealed that 86% of responding doctors had indicated readiness to use JDP-205 in place of the current therapy when the product is approved by the FDA. A second independent market research study with in-depth clinician interviews confirmed the findings.
Acute allergic reaction is a serious, potentially life-threatening, condition and has been growing at concerning rates with very limited options for treatment. JDP-205 will offer a superior treatment to the current therapy for the first time in over 60 years.
About JDP Therapeutics Inc.
JDP Therapeutics Inc. is a privately held, late clinical stage specialty pharmaceutical company with a lead product candidate in phase III development for acute allergic reactions for the hospital and clinical market.
JDP Therapeutics focuses on developing small molecule therapeutics to treat life threatening diseases with significant unmet medical needs, primarily for use in the hospital and clinical setting. The company develops unique dosage forms, novel formulations, and new indications for proven chemical entities to achieve their full therapeutic and market potential. This approach mitigates risk, shortens the development cycle, leads to a well-defined regulatory pathway, and fully characterizes clinical needs for each product opportunity.
For further information about JDP, please email: info(at)jdptherapeutics(dot)com
About CoSci Med-Tech Co. Ltd.
CoSci Med-Tech Co., Ltd., is an innovative pharmaceutical company headquartered in Beijing China. Founded in 2003, CoSci Med-Tech is at the forefront of the design and development of sustained and controlled-release dosage forms and orally disintegrating products in China. The company has developed 80 drug products, 107 patent applications and holds 53 granted patents. A deep respect for science and technology as well as honesty, cooperation, and customer service are at the core of CoSci’s values.
CoSci offers leading formulation and drug development services for pharmaceuticals and nutritional supplements to support pharma clients from development to registration and commercialization. CoSci specializes in assisting international pharma companies to tap into the large China market as well as bringing best in class innovative technologies to local Chinese pharmaceutical companies. CoSci is also leveraging their capabilities to build a growing internal pipeline of proprietary products.
For further information about CoSci Med-Tech, please email: kxbc(at)cosci-med(dot)com
# # #
Safe Harbor Statement Regarding Forward-looking Statements
The statements in this release and oral statements made by representatives of JDP relating to matters that are not historical fact, including without limitation those regarding the timing or potential outcomes of research or clinical trials, any market that might develop for any of JDP’s product candidates are forward-looking statements that involve risks and uncertainties, including, but not limited to, the likelihood that future research will prove successful, the likelihood that any product in the research pipeline will receive regulatory approval in the United States or abroad, the ability of JDP and/or its partners to develop, manufacture and commercialize, JDP’s ability to fund such efforts with or without partners, and other risks.