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Nanjing, China, June 24, 2021/PRNewswire/ - Triastek, Inc. (Triastek), the world's leading 3D printed drug, has completed a Series B financing of US$50 million (330 million yuan). This round of investment was jointly led by Matrix Partners China and CPE, followed by Shanghai Science and Technology Innovation Center Capital (SSICC) and existing investors Morningside Ventures, Dalton Ventures and Yunqi Ventures. In addition to supporting the ongoing development of the first IND-approved clinical trial product, the proceeds will also be used to expand the 3D printed drug product line and advance Triastek's vision to create a new era of global smart pharmaceutical manufacturing.
Dr. Senping Cheng, Co-founder and CEO of Triastek, said: “We are grateful to Jingwei China, CPE, SSICC and our existing shareholders for their support. Developing cutting-edge therapies to meet the unmet needs of patients and completely changing pharmaceutical manufacturing is Triastek’s unremitting goal . And improve human health. We will use 3D printing of medicines as the advantages of digital manufacturing technology, combined with emerging technologies such as artificial intelligence, to create a new era of advanced and intelligent medicine manufacturing."
Dr. Yu, partner of Jingwei China, added: “Triastek's breakthrough 3D printing pharmaceutical technology platform can create almost all types of target drug release profiles. We are optimistic that in the future, through its technology platform, Triastek will continue to introduce innovative drugs for future use. Patients who meet clinical needs."
CPE Executive Director Wu Jing commented: "We have been focusing on emerging technologies in the field of medical development. We firmly believe that Triastek's 3D printing medical technology will become a platform with global influence and a leader in the development and manufacturing of the entire industry. Triastek's contribution will be Accelerate the realization of digitalization and smart manufacturing in the entire pharmaceutical industry."
Dr. Zhide Yuan, Executive Vice President of SSICC, said: “Triastek has a multidisciplinary team in the fields of pharmaceutical science, mechanical engineering, materials science, etc., rich pharmaceutical manufacturing experience and strong interdisciplinary execution capabilities. We are optimistic about the company’s technology and team capabilities and look forward to the company. The technology is more widely used in drug development and production."
Founded in 2015, Triastek is the first 3D printing pharmaceutical company in China. It is committed to building a new 3D printing pharmaceutical technology platform, with comprehensive proprietary technologies covering dosage form design, pharmaceutical digital development, and intelligent manufacturing. With its proprietary Melt Extrusion Deposition (MED®) 3D printing technology, the company is the first Chinese pharmaceutical company to be accepted by the US FDA's Emerging Technology Program. Triastek's technology provides customized solutions for most oral solid dosage forms. Compared with the traditional iterative drug development process and tablet compression method, MED 3D printing provides a paradigm shift in the development and manufacturing of pharmaceutical products. The versatility of the tablet structure produced by 3D printing technology allows precise and procedural control of the drug release profile, thereby optimizing the PK profile of new and existing drug products.
Using MED 3D printing technology, Triastek has established a product line including new formulations and new combination candidate products, which are designed to meet specific clinical needs and thereby improve drug treatment results. In January 2021, the company's first product, T19, received IND approval from the US FDA, and the product is being developed for the treatment of rheumatoid arthritis. The company's second product, T20, received positive pre-IND feedback from the US FDA in March 2021, and plans to submit an IND application for T20 by the end of this year.
In addition to internal product development, Triastek also cooperates with leading multinational and Chinese pharmaceutical companies to explore multiple application scenarios of MED 3D printing technology, such as developing formulas, providing solutions for new chemical entities with poor water solubility, and extending approval/development The life cycle of the product. Through these collaborations, Triastek responds to the developability challenges of new compounds by developing novel, unique and competitive drug products, and fine-tunes the PK characteristics in the early product development to shorten the time for human research, thereby providing important partner companies with Value proposition.
For more information, please visit Triastek's website https://www.triastek.com
Business Development and Public Relations: Eric Tsai Director of Business Development [Email Protection] 86-18502118450
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