Lilly to invest 86 million dollars in research and development of traditional Chinese medicine cancer treatments

Source: medicine home network

Date: 2013/10/18

        Invested by li ka-shing's Hutchison China MediTech company and lilly reached a about research and development of traditional Chinese medicine for the development of anti-cancer drugs fruquintinib agreement. Lilly will invest $86 million on the project. Is a kind of VEGFR1 Fruquintinib, 2, 3, inhibitor, is expected to treat a variety of cancers, the drug is currently in phase ii clinical study.

        In recent years, many multinational companies to China's traditional Chinese medicine research expressed strong interest. Such as GSK set up specializing in traditional Chinese medicine research institutions in China, Johnson & Johnson has conducted similar investment in the field of infection, all these show the traditional Chinese medicine (TCM) bright prospect in drug research and development in the future.

        Aerie Pharma biotechnology company recently decided to raise the total amount of the IPO to $84.5 million to support its research and development for the treatment of glaucoma medications. In September this year, the company has raised $58 million month, Aerie company has now decided to $12 to $14 a share price to sell 5.3 million shares. Aerie company plans to $34 million of that used in the treatment of glaucoma medications on the phase iii study of AR - 13324. At the same time to spend $5 million on match with AR - 13324 using PG324 phase ii study. With ipos have 39 biotechnology company, since its establishment, Aerie also no drug approved by the FDA, but the company says AR - 13324 is a potential treatment for glaucoma medications. Once listed, will be $4.5 billion worth of glaucoma treatment in the United States market share of a large cup of soup. But the specific situation how to also need time to test.

The original link: http://www.askci.com/news/201310/18/181441227534.shtml