Privately held JDP Therapeutics said it secured $17 million in Series A funding it plans to use to develop the company’s injectable drug used to treat acute allergic reactions in hospital and clinical care settings.
The funding round was led by China-based CoSci Med-Tech. The money will be used to advance JDP’s lead product JDP-205 through a Phase III clinical trial, new drug application filing and FDA approval, the PA-based company said.
JDP said it has also secured a commercial supply agreement for the product with a major pharmaceutical company, which was not disclosed.
“With CoSci’s involvement, JDP has a strong partner in China, further expanding JDP’s global market reach from the original U.S., Canada, EU, Australia territories to the Far East,” Jie Du, president and CEO of JDP, said in a statement.
JDP-205 is being developed for the treatment of acute allergic reactions for the hospital market. Acute allergic reaction is a serious, potentially life-threatening, condition and has been growing at concerning rates with very limited options for treatment, the company said.
- here’s the release
Allergy Therapeutics scores $30M to finish grass allergy vaccine