Ascletis, a Hangzhou, China-based biotechnology company dedicated to discovering, developing and commercializing new treatments for liver diseases, completed a US$100m (RMB700m) Series B financing.
The round was led by C-Bridge Capital, with participation from new investors QianHai Equity Investment FOF, FOCUS Media Jiangnanchun Foundation, WTT Investment, together with the current investors Goldman Sachs, Tasly Pharmaceutical.
The company plans to use the proceeds from this financing to expand its product portfolio and sales force.
Led by Jinzi J. Wu, Ph.D., founder, President and CEO, Ascletis is dedicated to discovering, developing and commercializing new treatments for Liver Diseases.
With two novel direct-acting antiviral agents (DAAs), Danoprevir (ASC08), an NDA-filed HCV protease inhibitor, licensed from Roche, and Ravidasvir (ASC16), a phase 2 completed HCV NS5A inhibitor, licensed from Presidio Pharmaceuticals, the company provides two regimens for chronic hepatitis C (CHC) patients: Triple therapy and all-oral interferon-free therapy.
Its product portfolio also includes ASC06, a clinical stage, first-in-class, RNAi therapeutic for the treatment of liver cancers, licensed from Alnylam Pharmaceuticals; and ASC09, a phase 2a completed HIV protease inhibitor, licensed from Janssen, a Johnson & Johnson company.