CANbridge Pharmaceuticals Inc., a Beijing, China-based biopharmaceutical company developing innovative drug candidates to treat underserved medical conditions in China and other markets, completed a US$98m Series D financing.
The round was led by General Atlantic, with participation from RA Capital Management, Hudson Bay Capital Management, YuanMing Prudence Fund and Tigermed.
The proceeds will be used to accelerate and expand the CANbridge rare disease pipeline through internal development and external partnerships, further build its commercial infrastructure and capabilities in China and supplement working capital.
Led by James Xue, PhD, Founder, Chairman and CEO, CANbridge Pharmaceuticals is a biopharmaceutical company accelerating development and commercialization of specialty healthcare products for orphan diseases and targeted cancers. It has a deep rare disease pipeline, including Hunterase®, for which it filed a New Drug Application (NDA) in China and has plans to commercialize the drug this year. In addition, the company recently entered into the commercial stage with two approved oncology products, Caphosol®, in mainland China, and NERLYNX® (neratinib), in Hong Kong.