CAS Investment Management, a subsidiary of Chinese Academy of Sciences, has backed medical devices developer Resproly’s series B round.
Resproly, a China-based inhalation therapy and medical devices developer, has raised approximately RMB200m ($31m) in a series B round led by CAS Investment Management, DealStreetAsia reported yesterday.
YuanBio Venture Capital, Cowin Capital, Qianhai FOF, Tianfeng Capital and Efung Capital also took part in the round. CAS Investment Management is a subsidiary of CAS Holdings, itself owned by Chinese Academy of Sciences.
Founded in 2018, Resproly is working on inhaled drugs and related devices for conditions such as asthma and chronic obstructive pulmonary disease. It will use the money to expand its pipeline as it hopes to enter two to three programmes into clinical trials in the next two years.
Huaige Capital previously led a $7m series A round in mid-2019, with participation from Gree Financial Investment, a unit of appliances manufacturer Gree, as well as medical polymer producer Shanghai Kindly Enterprise Development and Yanghe Capital.
