Ascentage Pharma, a US and Chinese global clinical-stage biopharmaceutical company dedicated to developing apoptosis-targeted therapies for cancers and other diseases, completed an approximately $150m Series C financing.
The round, which brought total funding to around $240m, was co-led by existing investors YuanMing Prudence Fund and Oriza Seed Venture Capital, as well as new investor Teng Yue Partners, with participation from ArrowMark Partners, HDY International Investment, CTS Capital and CCB International.
The company intends to use the funds to support broad and innovative product pipeline of apoptosis-targeted candidates and build-out of its R&D centers and manufacturing facilities.
Led by Dr. Dajun Yang, Chairman and CEO, Ascentage Pharma is a globally-focused, clinical-stage biopharmaceutical company developing novel small molecule therapies for cancers, hepatitis B and age-related diseases.
Based on technology from the University of Michigan, the company’s expertise is in designing and developing therapeutics that inhibit protein-protein interactions to restore apoptosis, or programmed cell death, in cancers.
Ascentage has built a pipeline of seven clinical candidates, including a novel, highly potent Bcl-2/Bcl-xL inhibitor, APG-1252, as well as candidates aimed at IAP and MDM2-p53 pathways, and next-generation tyrosine kinase inhibitors.