Innovative Drug Developer Micot Nets Over CNY 100 Mn in Series C

Healthcare Author: Lingxi Peng Feb 10, 2023 05:52 PM (GMT+8)

The innovative drug company has raised over CNY 500 million to become a world-leading polypeptide drug developer


Micot (Chinese: 麦科奥特) announced that it had raised an over CNY 100 million Series C funding round, which was led by Chang An Hui Tong Fund (Chinese: 长安汇通基金) and followed by famous industrial and financial investment companies. Proceeds raised in this fund will be used to promote the clinical trials of Micot's bifunctional polypeptides in the US and China, further enrich R&D pipelines, and further enhance the first mover advantage in the R&D of bifunctional polypeptide.

Founded in 2007, Micot is a high-tech company mainly focused on the product R&D of the innovative chemical drugs for cardiovascular diseases, metabolic diseases and Nervous system diseases. It has leading advantages in the field of bifunctional and multifunctional polypeptide research and development. At present, the company has a product portfolio covering 17 classes, of which, there are three types of products have acquired the clinic approval for new drugs from CFDA, another three are in the process to apply to the approval of new drugs from American FDA, and eight are in the process to apply for New Molecular Entity drug clinical study. Located in Xi’an Hi-tech Industries Development Zone, its R&D and pilot scale production base covering 3500 square meter building area and equipped with international advanced instruments and equipment. As for talent team, 70% personnel in the technical team have doctorate and overseas study experience, containing the fields of pharmacy, pharmacology, toxicology, clinical research, biometry, iatrology, registration and declaration, etc.

Micot's competitors include Sinopep (Chinese: 诺泰生物), ProteLight Pharmaceutical  (Chinese: 普莱医药), and ZhiTai Biopharma (Chinese: 智肽生物).