Frontier Biotech gets $43m from Huaxin Century, others

Frontier Biotechnologies Inc., a drug development bio-pharmaceutical company, has raised $43 million (RMB300 million) in a series C funding round led by Chinese RMB fund Huaxin Century Investment Group, as per a China Money Network report.

The funding round also saw participation from Shenzhen Capital Group Co. Ltd and Efung Capital.

Founded in 2002 by a number of overseas-trained Chinese scientists, Nanjing-based Frontier Biotechnologies focuses on researching, developing and manufacturing innovative drugs. The company claims that its feature product, Albuvirtide, is China’s first domestically developed AIDS treatment drug.

The proceeds from financing will be used by the company to enhance marketing initiatives for its Albuvirtide drug, and to improve research on new products.