Eccogene raises funds for clinical-stage metabolic pipeline development

12 Jun 2023
www.pharmaceutical-technology.com
Phase 1Phase 2
Eccogene raises funds for clinical-stage metabolic pipeline development
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Source: Pharmaceutical Technology
Eccogene’s ECC5004 has been designed to treat obesity and type 2 diabetes. Credit: abolukbas / Shutterstock.com.
Clinical-stage biotechnology firm Eccogene has raised $25.23m (CNY180m) in a Series B financing round to support the development of its clinical-stage metabolic pipeline.
Co-led by Zhangjiang Healthcare Venture Capital and New Alliance Capital, the financing round has seen participation from existing investors Qingsong Capital, Delos Capital and Oriza Seed Capital.
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New investors Elikon Venture, YuFu Investment, Rockbleu Capital and Huajin Capital have also participated in the financing round.
Eccogene’s clinical pipeline includes a once daily, low-dose, small molecule GLP-1 receptor agonist (GLP-1RA), ECC5004, designed for type 2 diabetes (T2D) and obesity.
The therapy is being evaluated in a US Phase I clinical trial in T2D patients and healthy participants.
ECC4703 is a THRβ full agonist, now being assessed in a US Phase I trial in patients with elevated LDL and healthy participants. In preclinical trials, the therapy showed superiority over partial agonist MGL-3196 and robust efficacy in pre-clinical NASH [a form of non-alcoholic fatty liver disease that involves inflammation of the liver and liver damage, in addition to fat in the liver] and dyslipidemia models.
ECC0509 is a peripherally distributed SSAO/VAP-1 inhibitorSSAO/VAP-1 inhibitor that is nearing completion of a Phase I clinical trial.
Eccogene also intends to use the proceeds from the financing to further advance its preclinical programmes to treat metabolic and immunological diseases.
Eccogene CEO Jingye Zhou stated: “We are thrilled that the series B financing enables us to advance clinical trials of a potentially best-in-class small molecule GLP-1RA to treat obesity, diabetes and related complications, and to further develop several highly differentiated assets for metabolic and immunological diseases.
“This financing brings us a step closer to providing clinical benefits to hundreds of millions of patients affected by obesity, T2D and NASH globally.”
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