– USA, DC – Chase Therapeutics Corporation, a Washington, DC-based clinical-stage pharmaceutical company, today announced the completion of a $20M Series B financing led by Chinalink Asia Holdings of Hong Kong.
Concurrently, the company also announced the appointment of Javier Romero, Chairman, and CEO of Chinalink, to the Board of Directors.
“Javier Romero brings decades of international business experience to the Board of CTC,” said Dr. Clarence-Smith. “Javier is committed to making investments in highly innovative companies that will help shape the 21st century, ranging from climate change to artificial intelligence to biotech. We look forward to working with Javier as we advance our programs in Major Depressive Disorder and Parkinson’s Disease.” commented co-founder and Board Chair, Dr. Kathleen Clarence-Smith.
The proceeds of Series B will support Phase 3 pivotal trials for CTC-501 for the treatment of Major Depressive Disorder and CTC-413 for the treatment of Parkinson’s Disease as well as completion of the development and validation of a diagnostic product for Parkinson’s Disease.
“Major Depressive Disorder is a common psychiatric condition that affects women at twice the rate as men and for which there remains a significant need for new treatment options for the more than 300 million people worldwide who are living with this disease. CTC-501 clinical studies to date suggest the drug is well-tolerated and rapidly provides symptomatic relief in those suffering from MDD,” said CEO, Dr. Thomas Chase. “Parkinson’s Disease is the second most common neurodegenerative disorder of the human central nervous system and affects over one million people in the US alone. Clinical results for CTC-413 in a proof-of-concept trial in Parkinson’s patients were encouraging, with effective symptom mitigation along with favorable indications of its neuroprotective potential. In addition, we are developing a unique diagnostic that could identify patients with PD earlier and more accurately. The funding announced today will allow us to advance all three programs into pivotal trials which, if successful, could help change the way we treat MDD and PD.”
“I am excited to help advance Chase’s highly promising products to market,” said Javier Romero. “There is a growing global need for better treatment options that can improve the lives of people living with MDD and Parkinson’s disease. My goal is to help Chase Therapeutics make these therapies available to patients around the world including China and Europe.”
About Chase Therapeutics
Chase Therapeutics Corporation, since its inception in 2016, has pioneered the discovery and development of needed pharmaceuticals for brain disease. The company focuses on the rapid translation of therapeutic breakthroughs in neurosciences research that may help prevent and potentially cure central nervous system dysfunction. Lead drugs in its pipeline include CTC-413 for the palliative and neuroprotective treatment of Parkinson’s Disease and CTC-501 for Major Depressive Disorder. Both drugs, along with a companion diagnostic for Parkinson’s disease, are now entering Phase 3 development. Chase Therapeutics stands committed to improving the lives of all those afflicted by the neuropsychiatric disease.
For more information: http://www.chasetherapeutics.com/
About Chinalink Asia Holdings Ltd
Chinalink´s private equity was founded by Mr. Javier Romero in 2009. Chinalink´s vision has been to invest in highly innovative companies destined to help shape the 21st century from climate change to artificial intelligence to biotech. As an integrated financial services group, the company supports its portfolio companies at each stage of their development from start-up, through growth, to successfully established businesses.
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
