Key Takeaways
- • Chance Pharmaceuticals completed a $30 million Series C funding round led by Lapam Capital, with participation from new investors CMS Capital and HEDA BioVenture, plus existing investor Guozhong Capital.
- • The Hangzhou-based clinical-stage biotech company specializes in inhalation therapies for debilitating diseases and leverages proprietary particle engineering, advanced inhaler design, and an inhalation evaluation platform.
- • Capital will accelerate R&D efforts, fund manufacturing facility construction to global regulatory standards, advance multiple pipeline projects into clinical development, and support new technology platform development.
- • Dr. Donghao Chen, founder and CEO, emphasized the company's track record of rapidly advancing platform candidates and positioning Chance for expansion within China and international markets.
- • Lapam Capital's investment reflects institutional confidence in the transformative potential of inhalation drug delivery as a therapeutic modality for unmet patient needs.
Summary
Chance Pharmaceuticals announced the completion of a $30 million Series C financing round on October 11, 2021, marking a significant capital raise for the Hangzhou-based clinical-stage biotechnology company focused on inhalation therapies. The round was led by new institutional investor Lapam Capital and included participation from emerging healthcare investors CMS Capital and HEDA BioVenture, alongside existing backer Guozhong Capital. This capital structure reflects both continued confidence from established supporters and fresh institutional validation of the company's therapeutic approach.
The company specializes in the discovery, development, and commercialization of inhalation-based treatments for serious diseases. According to Dr. Donghao Chen, Chance's founder and CEO, the organization differentiates itself through proprietary capabilities including advanced particle engineering technology, sophisticated inhaler design capabilities, and a proprietary inhalation evaluation platform—capabilities that position it competitively within the drug delivery space.
The $30 million in new capital will be deployed across multiple strategic priorities: accelerating research and development of its inhalation therapy pipeline, constructing a manufacturing facility designed to meet global regulatory standards, advancing several pipeline candidates toward clinical initiation, and developing complementary technology platforms to expand the company's drug development capabilities beyond its core inhalation focus. Zhihua Yu, Chairman of Lapam Capital, highlighted confidence in "transformative inhalation therapies" and noted that Chance's foundational technology and experienced management team position it to accelerate development timelines and expand patient benefit.
This funding round supports Chance's dual geographic focus, strengthening its strategic positioning within China's growing biotech ecosystem while simultaneously building infrastructure and capabilities to pursue international market opportunities. The emphasis on manufacturing facility construction with global standards suggests ambitions to serve regulated markets beyond China.
The company specializes in the discovery, development, and commercialization of inhalation-based treatments for serious diseases. According to Dr. Donghao Chen, Chance's founder and CEO, the organization differentiates itself through proprietary capabilities including advanced particle engineering technology, sophisticated inhaler design capabilities, and a proprietary inhalation evaluation platform—capabilities that position it competitively within the drug delivery space.
The $30 million in new capital will be deployed across multiple strategic priorities: accelerating research and development of its inhalation therapy pipeline, constructing a manufacturing facility designed to meet global regulatory standards, advancing several pipeline candidates toward clinical initiation, and developing complementary technology platforms to expand the company's drug development capabilities beyond its core inhalation focus. Zhihua Yu, Chairman of Lapam Capital, highlighted confidence in "transformative inhalation therapies" and noted that Chance's foundational technology and experienced management team position it to accelerate development timelines and expand patient benefit.
This funding round supports Chance's dual geographic focus, strengthening its strategic positioning within China's growing biotech ecosystem while simultaneously building infrastructure and capabilities to pursue international market opportunities. The emphasis on manufacturing facility construction with global standards suggests ambitions to serve regulated markets beyond China.
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