Huahai Pharma unit gets green light for clinical trial

Zhejiang Huahai Pharmaceutical Co., Ltd. announced that its subsidiary, Shanghai Huahai Biotechnology, and its fully-owned subsidiary, Huabo Biomedicine Technology (Shanghai), have received approval from the National Medical Products Administration for clinical trials of their HB0056 injection, indicated for asthma. The company has already invested approximately RMB 63.67 million in the HB0056 project. The drug is a bispecific antibody targeting TSLP and IL-11, both key factors in inflammatory diseases and asthma. Huahai noted that the asthma drug market in China reached $3.8 billion in 2022, with moderate-to-severe treatments accounting for $2.1 billion. While biological agents have low penetration, analysts anticipate significant growth, potentially reaching 44.1% by 2030. The company cautioned about the risks inherent in drug development and regulatory processes.