Eccogene Raises Cny 180 Million In Series B Equity Financing, Propelling Its Pipeline Of Treatments For Metabolic Diseases

Eccogene Inc., a clinical-stage biotechnology company developing innovative therapeutic solutions for metabolic diseases, today announced a CNY 180 million (about $25 million) Series B financing. The financing was co-led by New Alliance Capital and Zhangjiang Healthcare Venture Capital. The syndicate also included new investors Rockbleu Capital, YuFu Investment, Huajin Capital, Elikon Venture and existing investors Delos Capital, Oriza Seed Capital and Qingsong Capital. The proceeds from the financing will be used to support the development of Eccogene's clinical-stage programs including the Phase I trial of ECC5004, a small molecule GLP-1 receptor agonist for obesity and type 2 diabetes, and the Phase I trial of ECC4703, a THRb full agonist for NASH and lipid disorders, as well as to further advance Eccogene's preclinical programs for metabolic and immunological diseases.