Hangzhou Chance Pharmaceuticals

Hangzhou Chance Pharmaceuticals is a clinical-stage biotechnology firm established in 2015, specializing in the development and commercialization of inhalation therapies. The company was co-founded by Donghao Chen, who serves as CEO, along with Lan Chen, Peng Huang, and Guobao Zhao. Dr. Donghao Chen's background is deeply rooted in inhalation technology; he conducted post-doctoral training at M.I.T. in the lab that invented the ARCUS inhalation technology and later worked at Advanced Inhalation Research (AIR) and Alkermes as the CMC lead for an inhaled insulin therapy. This specialized experience provides a strong scientific foundation for the company's focus.

The company's business model centers on developing a pipeline of therapies for debilitating conditions such as chronic obstructive pulmonary disease (COPD), asthma, and central nervous system disorders. Revenue generation is anticipated through strategic partnerships, distribution agreements, and the eventual commercialization of its drug candidates. A key agreement was established with Acorda Therapeutics in May 2023 to distribute and supply INBRIJA®, a treatment for OFF episodes in Parkinson's disease patients, in Greater China. Under this agreement, Chance Pharmaceuticals will pay Acorda an upfront fee, along with milestone payments and a fixed fee per unit supplied.

Chance Pharmaceuticals leverages two core technology platforms for creating dry powder inhalation (DPI) therapies: a traditional milling and mixing platform and a proprietary spray-drying platform. The spray-drying technology is particularly notable as it allows for the formulation of biological macromolecules and low-activity drugs into highly efficient inhalation powders for deep lung or systemic delivery. The company's pipeline includes candidates like CXG87, an enhanced formulation of budesonide/formoterol inhalation powder currently advancing to Phase III clinical trials, and CXF11, a tiotropium bromide inhalation drug for preventing bronchospasm in COPD patients. To support its development and commercialization goals, the company is building manufacturing facilities compliant with FDA and EMA quality standards.

The company has successfully secured significant funding to advance its pipeline. It raised $30 million in a Series C round in October 2021, followed by a Series C+ round in January 2022. Most recently, in March 2025, Chance Pharma completed another funding round with participation from investors Heda Health Fund and Qihang Venture Capital to accelerate its Phase III trials and develop new formulations.

Keywords: inhalation therapy, dry powder inhalation, clinical-stage biotechnology, respiratory diseases, Parkinson's disease, central nervous system disorders, drug delivery, pharmaceutical development, Acorda Therapeutics, INBRIJA, CXG87, CXF11, Donghao Chen, spray drying platform, particle engineering, COPD treatment, asthma treatment, biopharmaceutical, venture capital, China pharmaceuticals