SHANGHAI, China, May 31, 2020 (GLOBE NEWSWIRE) — Hua Medicine (the “Company”, Stock Code: 2552. HK), a leading innovative drug development company focused on developing novel therapies for the treatment of diabetes, is pleased to announce that the Company has been officially included as a constituent stock of the MSCI Hong Kong Micro Cap Index. The relevant change has been implemented as of the close of May 29, 2020.
MSCI is a leading provider of research-based indexes and analytics worldwide. The indices cover thousands of securities from different geographic sub-areas and cap sizes that have good operational results and potential. The MSCI market cap weighted indices are amongst the most respected and widely used benchmarks in the financial industry, and the Hong Kong Micro Cap Index is widely used among institutional investors. Hua Medicine is honored to become one of the constituent stocks of the MSCI Hong Kong Micro Cap Index. The inclusion of the Company will enhance its reputation among institutional investors, and is a meaningful milestone in recognizing Hua Medicine’s achievements as one of the leading biotech companies in China.
The strategic goal of the Company is to become a global diabetes care and management company. Since listing, the Company has achieved many milestones. The Phase III monotherapy trial (HMM0301) of dorzagliatin has achieved its 24-week primary efficacy endpoint. The Companies’ dorzagliatin-driven portfolio continues to grow. Research data from the ever-expanding clinical trials of the Company to date suggest that, as a cornerstone therapy, dorzagliatin possesses the potential of controlling the development of diabetes and preventing or delaying the occurrence of relevant complications, either via monotherapy or through combination with various approved classes of anti-diabetic drugs, such as metformin, empagliflozin (a SGLT-2 inhibitor) and sitagliptin (a DPP-4 inhibitor). The Company plans to announce the top-line 52-week key results of HMM0301 by no later than the third quarter of 2020. The 24-week patient visit of HMM0302, another Phase III combination trial of dorzagliatin add-on to metformin, has been completed. The Company plans to announce the top-line 24-week key results of HMM0302 by no later than the third quarter of 2020, and announce the top-line 52-week key results by year-end 2020.
“We will keep on making our contribution in renovating the global diabetes treatment standards, advancing our dorzagliatin plus strategy and establishing an innovative, sharing and win-win scientific platform that focuses on the remodeling of glucose homeostasis. We remain devoted to the development, registration and launch of dorzagliatin in China and around the world, and look forward to more outstanding performance, thus giving back to both investors and diabetes patients globally,” said Dr. Li Chen, Founder and Chief Executive Officer of Hua Medicine.
Dorzagliatin is an investigational, first-in-class, dual-acting glucokinase activator, designed to control the progressive degenerative nature of diabetes by restoring glucose homeostasis in patients with Type 2 Diabetes. By addressing the defect of the glucose sensor function of glucokinase, dorzagliatin has the potential to restore the impaired glucose homeostasis state of patients with Type 2 Diabetes and serve as a first-line standard-of-care therapy for the treatment of the disease, or as a cornerstone therapy when taken in combination with currently approved anti-diabetes drugs.
About Hua Medicine
Hua is a leading, clinical-stage innovative drug development company in China focused on developing novel therapies for the treatment of diabetes. Founded by an experienced group of entrepreneurs and international investment firms, Hua advanced a first-in-class oral drug for the treatment of Type 2 Diabetes into NDA-enabling stage and is currently evaluating the therapy in adults with diabetes in two Phase III trials in China and various earlier stage clinical trials in China and the United States. Dorzagliatin has achieved its first primary endpoint in a Phase III monotherapy trial. The Company has initiated product life-cycle management studies of this novel diabetes therapy and advanced its use in personalized diabetes care. Hua Medicine is working closely with disease experts and regulatory agencies in China and across the world to advance diabetes care solutions for patients worldwide.
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