Visen Pharmaceuticals, a Shangai, China-based biotech company focused on developing and commercializing innovative endocrine drugs that address significant unmet needs for patients in Greater China, closed a $150m Series B financing.
The round was led by Sequoia China with participation from OrbiMed, Sherpa Healthcare Partners, Cormorant, HBM Healthcare Investments, Pivotal bioVenture Partners China, Logos Capital, and CDG Capital, as well as all of the existing investors, including Ascendis Pharma A/S, Vivo Capital and Sofinnova Investments.
The company intends to use the funds to accelerate the clinical development of drug candidates and to build commercialization foundation.
Led by Pony Lu, CEO, Visen is committed to the treatment of endocrine-related diseases, introducing the world’s leading treatment methods and drugs into the China market.
With its “Patient First” approach, the company is developing TransCon hGH (lonapegsomatropin), TransCon PTH, and TransCon CNP, in the Greater China market. Currently, the Phase 3 study of TransCon hGH (lonapegsomatropin) in China is ongoing.
In 2018, the company was formed by Ascendis Pharma A/S (Nasdaq: ASND) and an investor syndicate led by Vivo Capital (along with participation by Sofinnova Investments), to develop and commercialize endocrinology therapies in Greater China, which includes mainland China, Hong Kong, Macau, and Taiwan.