Tee Labs Incubatee: ShouTi Inc. Announces Corporate Name Change and $33 Million Oversubscribed Financing
ShouTi Inc. Announces Company Name Change to Structure Therapeutics
ShouTi Inc. announced today that it has secured $33 million in an oversubscribed financing, building on its $100 million Series B financing completed in October 2021. In addition, the company has completed dosing in its Phase 1 single ascending dose (SAD) study of GSBR-1290 for the treatment of type 2 diabetes and obesity. Concurrently, to reflect its deep expertise in next-generation structure-based drug discovery, ShouTi has launched its new corporate name: Structure Therapeutics.
This financing extension includes new investors Deep Track Capital and Piper Heartland Healthcare Capital. The proceeds will be used to advance Structure Therapeutics’ lead clinical programs and to further expand the application of its next-generation, structure-based drug discovery platform to drive the discovery and development of innovative GPCR-targeted therapeutics.
“We see immense potential in Structure Therapeutics’ platform to drive the development of oral therapeutics, thereby addressing significant unmet health needs globally,” said David Kroin, Founder and Chief Investment Officer of Deep Track Capital. “We are proud to provide our strong support to Structure Therapeutics, assisting them in advancing their key clinical programs and continuously exploring new opportunities to apply their powerful technology.”
Clinical progress of GSBR-1290
Dosing has been completed in the Phase 1 single ascending dose (SAD) clinical study of GSBR-1290. Currently in the development phase, GSBR-1290 is an oral small molecule GLP-1 receptor (GLP-1R) agonist for the treatment of type 2 diabetes and obesity.
The first-in-human Phase 1 study was conducted in 48 healthy volunteers and was designed to evaluate the safety, tolerability, and pharmacokinetic (PK) profile of GSBR-1290. GSBR-1290 was generally well-tolerated, with no serious adverse events reported. The GLP-1R is a validated G protein-coupled receptor (GPCR) therapeutic target for diabetes and obesity. There are currently five peptide-based drugs on the market based on GLP-1R, with total global sales reaching $13.1 billion in 2020. However, no oral small molecule drugs based on GLP-1R have been approved for marketing to date.
Statement from Dr. Xichen Lin, Chief Scientific Officer of Structure Therapeutics:
“The Structure Therapeutics team has utilized our powerful discovery platform to design an oral, biased agonist of the GLP-1R, GSBR-1290, thereby avoiding ß-arrestin-mediated receptor internalization and desensitization. As a small molecule drug, GSBR-1290 has demonstrated excellent preclinical activity and good oral bioavailability, with the potential to become a differentiated treatment option for patients with diabetes and obesity, serving as an alternative to the currently available GLP-1R peptide therapies.”
New company name
Structure Therapeutics’ new corporate name, Structure Therapeutics, emphasizes the company’s drug discovery platform based on structural biology and computational chemistry. Leveraging this powerful platform, the company is dedicated to developing a new generation of small molecule therapeutics to replace biologics and peptide therapies.
Statement from Dr. Raymond Stevens, Chief Executive Officer of Structure Therapeutics:
“As our company grows and our pipeline expands, we have re-evaluated and established a new corporate identity. This name fully reflects the guiding role that our scientific methods and technology play in our structure-based drug discovery platform. With the strong support of our investors and drug discovery and development team, we are proudly embarking on a new chapter. We will continue to leverage our powerful internal platform, striving to overcome the limitations of biologics and peptide therapies to design more effective small molecule therapeutics.”
About Structure Therapeutics
Structure Therapeutics is a clinical-stage global biopharmaceutical company dedicated to developing novel oral therapeutics to treat a variety of chronic diseases with unmet medical needs. Structure Therapeutics’ R&D pipeline includes two clinical-stage compounds developed from its technology platform. By leveraging its proprietary, world-class, structure-based drug discovery technology, Structure Therapeutics aims to design differentiated small molecule therapeutics that overcome the limitations of biologics and peptide therapies targeting the GPCR family of cell surface receptors. SVB Securities served as the exclusive financial advisor to Structure Therapeutics for its Series B financing. For more information, please visit us and follow the company on Twitter @StructureTx and LinkedIn.Structure Therapeutics is a clinical-stage global biopharmaceutical company dedicated to developing novel oral therapeutic drugs for the treatment of multiple chronic diseases to address unmet medical needs. The company’s research and development pipeline includes two clinical-stage compounds developed based on its proprietary technology platform. By leveraging world-class structure-based drug discovery technology, Structure Therapeutics aims to design differentiated small molecule therapeutic drugs and overcome the limitations of biologics and peptide therapies targeting the GPCR cell surface family. SVB Securities served as the exclusive financial advisor for Structure Therapeutics’ Series B financing. For more information, please visit and follow the company on Twitter @StructureTx and LinkedIn.
About Tee Labs
Tee Labs is an industry incubator dedicated to supporting the development of pioneering medical fields, including new drug discovery, diagnostics, and personalized medicine that incorporate artificial intelligence and digital solutions. Tee Labs provides comprehensive support, including R&D facilities, corporate functions, supply chain integration, and financial backing, to deeply empower entrepreneurial teams and accelerate their R&D progress. The laboratories are equipped with basic, general-purpose experimental equipment as well as shared equipment platforms, significantly shortening the setup phase for startups in terms of facilities and equipment, allowing companies to focus on their core R&D work.