Aslan Pharmaceuticals, a Singapore-based biotech company, raised an additional $9m and closed a $43m Series C funding.
The round included the US$34m announced in December 2015. The addition funds were provided by new institutional investor MVP Capital Partners.
The company intends to use the funds to further accelerate clinical development of its pipeline of four novel therapeutic agents that have the potential to treat tumour types highly prevalent in Asia. Its most advanced programme, ASLAN001, is currently undergoing phase 2 trials in cholangiocarcinoma, gastric cancer, and breast cancer. The new proceeds will also enable Aslan to develop ASLAN003 in new oncology indications following the recently announced expanded licensing agreement with Almirall.
Led by Dr Carl Firth, Chief Executive Officer, Aslan Pharmaceuticals focuses on the development of immunotherapies and targeted agents for Asia prevalent tumour types. The company’s proprietary pipeline of 4 development-stage candidates addresses multiple indications including gastric and breast cancers and inflammatory diseases. 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.