Alpha Biopharma, Inc., a Shangai, China-based clinical stage company focusing on research and development of innovative therapeutics, held the first $37m closing of its $65m Series A financing.
The round was led by Qiming Venture Partners, with participation from the TF Fund and the LYZZ Healthcare Venture Fund.
The company intends to use the funds to conduct a global multi-center Phase II clinical study of AZD3759, its lead product, as well as expand its product pipeline. In conjunction with the financing, Dr. William Hu, Managing Partner of Qiming Venture Partners, will join the Board of Directors of AlphaBio.
Led by James Liu, COO, Alpha Biophama is a clinical stage biopharmaceutical company focused on the development of innovative medicines for the Chinese and global markets. AZD3759, its lead product, is a next-generation small molecule tyrosine kinase inhibitor (TKI) specifically designed to treat epidermal growth factor receptor (EGFR) mutation positive non-small cell lung cancer (NSCLC) patients with central nervous system (CNS) metastases.
The company’s management team consists of experienced drug development experts with decades of experience in medical research including oncology, clinical operations, regulatory affairs and pharmaceutical marketing.