Aslan Pharmaceuticals, a Singapore-based biotech company, raised $34m in Series C funding.
The round was led by Accuron Technologies Limited, a Temasek Holdings subsidiary, with participation from Tianda Pharmaceuticals Limited, Haitong International, Morningside, Bioveda, Cenova and Sagamore Bioventures.
Led by Dr Carl Firth, Chief Executive Officer, Aslan Pharmaceuticals focuses on the development of immunotherapies and targeted agents for Asia prevalent tumour types. Its global medical device and diagnostics business division – Accuron MedTech, is led by Abel Ang, Group Chief Executive Officer.
The company’s proprietary pipeline of 4 development-stage candidates addresses multiple indications including gastric and breast cancers and inflammatory diseases. Its most advanced compounds are in phase 2: ASLAN001, a pan-HER inhibitor with phase 2 data in gastric cancer, being developed in cholangiocarcinoma, breast cancer and gastric cancer; and ASLAN002, which targets RON, an immune checkpoint inhibitor, and cMET.
The company plans to use the proceeds to further accelerate clinical development of its most advanced program, ASLAN001, which is currently undergoing phase 2 trials in cholangiocarcinoma, gastric cancer, and breast cancer, and was recently awarded Orphan Drug Designation in cholangiocarcinoma by the US Food and Drug Administration.