Chinese drug development startup, Impact Therapeutics, has raised $10 million in fresh funding, the company said in a disclosure.
New investors in the series B round include China Summit Capital, Guangzhou Yuexiu Industrial Investment Fund, Sungent Bioventure and Haibang Ventures. Existing investor Lilly Asia Ventures also participated.
“We are very pleased with the strong support from leading life science investment firms in this financing round, and are in a strong position to advance clinical studies of multiple programs,” said Dr. Edward Tian, chief executive officer, Impact.
Tian was previously with the research and development units of Pfizer Inc and Transtech Pharma in the US for more than two decades.
The Nanjing-based company had last raised funding in a series A round led by Lilly Asia Ventures, Cenova Capital and Wuxi AppTec Ventures.
Impact has established a research and business platform for the discovery and development of anti-cancer drugs. It has been testing anti-tumor drugs in pre-clinical and later stages.