Frontier Biotechnologies Of Nanjing Announces $43 Million Funding

Nanjing Frontier Biotech has raised $43 million in a Series C funding round led by Huaxin Century Investment Group, a Beijing RMB fund. Frontier recently announced that its NDA for Albuvirtide, a novel treatment for AIDS, was accepted by the CFDA for accelerated approval. Albuvirtide is a long-acting HIV fusion inhibitor that is administered via an IV on a once-weekly basis. If approved, Albuvirtide will be China's first domestically developed novel AIDS treatment. The company said it will use the capital to market Albuvirtide and continue research on other products.