BRIEF—$107 million series C raise for HighTide Therapeutics

Metabolic and digestive disease specialist HighTide Therapeutics has raised $107 million in a series C financing led by China’s TCM Healthcare Fund, with money also from Yuexiu Fund and Yuthai Fund.

The company, which has a footprint in both China and the USA, is working on multifunctional therapies, including lead candidate HTD1801, a first-in-class candidate for conditions including type 2 diabetes and non-alcoholic steatohepatitis (NASH).

HighTide will use the money to advance clinical development as well as commercialization and business development.

With a Phase II trial in type 2 diabetes near completion, the company has also initiated mid-stage research in NASH and has secured US Fast Track designation for the candidate in NASH as well as primary sclerosing cholangitis (PSC).