ARTHROSI SECURES $75M IN SERIES D FINANCING

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Jul 11, 2023, 17:21 ET

SAN DIEGO, July 11, 2023 /PRNewswire/ -- Arthrosi Therapeutics, a clinical-stage biotechnology company, today announced the successful securing of $75 million in Series D financing. This round is led by Guangrun Health Industry (Hong Kong) Co. Limited and backed by a consortium of investors, including Reichstein Biotech (HK) Co. Limited, a subsidiary of ApicHope Pharmaceuticals. The participation of these notable investors underscores their continued confidence and commitment to the development of AR882. This financing represents another milestone in the development of AR882, a highly potent and selective next-gen URAT1 inhibitor delivered in a once daily immediate release oral capsule. AR882 has the potential to change the treatment paradigm for gout, addressing critical aspects such as serum uric acid (sUA) levels, flares, and tophi reduction.

Recent Phase 2b trials have demonstrated remarkable efficacy and safety of AR882, positioning it as a frontrunner in the industry. Notably, AR882 has not only demonstrated high response rates achieving the minimum sUA target of below 6 mg/dL needed to control the disease, but also demonstrated sufficient potency to achieve targets below 5 mg/dL or 4 mg/dL for faster flare reduction and dissolution of crystal deposition and tophi.

"I am not aware of any other molecule that has shown such promising results," said Litain Yeh, PhD, and CEO of Arthrosi. "We continue to be extremely positive about how AR882 can address the significant unmet need in the gout space. In the U.S. alone there are 9 million people who suffer with limited treatment options. The Series D financing and continued partnership with ApicHope will accelerate the development of AR882 and other groundbreaking drugs in Western countries and in Asia."

"We look forward to the continued collaboration with Arthrosi to accelerate the company's innovative drug portfolio and provide global access to these promising treatments," said Hanxiong Li, Chairman and CEO of ApicHope. "We have been very impressed with the progress Arthrosi has demonstrated. The results of the Phase 2b trials are exceptional and we expect the ongoing Phase 2 tophi trial to also show improvements in flares, sUA reduction, and tophi."

With over 9 million gout patients in the U.S. alone and 20 percent of patients with visible tophi, the market potential for AR882 is estimated to be over $1 billion.

About Arthrosi

Arthrosi Therapeutics, Inc. was founded in San Diego, CA, in 2018 with a mission to create a revolutionary treatment option to target uric acid levels and reduce joint damage for people living with gout. With its vast therapeutic and treatment knowledge, Arthrosi has accumulated a comprehensive and robust intellectual property portfolio and impressive Phase 1 and Phase 2b data showing industry leading efficacy rates and superior safety profiles.

About ApicHope

ApicHope Pharmaceutical is an innovative pharmaceutical company with integrated R&D, manufacturing, and sales capabilities. It was founded in 2002 and listed on the Shenzhen Stock Exchange in November 2017 (300723.SZ). ApicHope focuses on the fields of pediatric medicine, chronic disease drugs, and biogenetic vaccines. It is recognized as one of the top 100 comprehensive pharmaceutical research and development companies in China and one of the top 100 pharmaceutical companies in China.

To learn more about Arthrosi, visit www.arthrosi.com.

Media Contact:
Shunqi Yan, PhD
Founder & Chief Operating Officer
[email protected]

SOURCE Arthrosi Therapeutics