China’s Asieris Pharmaceuticals bags over $106m funding led by Qiming

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Genitourinary tumour therapy developer Asieris Pharmaceuticals has closed a Series D round of financing raising over 700 million yuan ($106 million) led by Chinese global venture capital firm Qiming Venture Partners, according to a company statement on Wednesday.

The latest round comes after it pocketed 390 million yuan ($59 million) in a Series C+ round from the Chinese contract development organisation (CRO) Tigermed, Yingke PE, BioTrack Capital, and others in June.

A clutch of investors participated in the round including Alibaba co-founder Jack Ma’s YF Capital, CICC Capital’s sub-fund CICC Chuanhua Fund, Xiamen-based C&D Corporation, New York-listed Noah Holdings’ Gopher Asset Management, SAIC Capital’s fund of funds Hengxu Capital, healthcare-focused asset management firm IN Capital, V-Capital, Homsun Capital, IFSC, Triwise Capital, and Haoshuo Zhier Fund.

Asieris will invest the proceeds for pipeline development, and technology platform enhancement, besides product commercialisation.

The developer, which started operations in 2010 in East China’s Taizhou city, specialises in innovative drugs for genitourinary tumours and other diseases. Besides, it in-licences or commercialises drugs from other markets for China. Asieris has set up offices in Beijing, Shenzhen, and the US. 

Per its press release on October 30, Center for Drug Evaluation (CDE) of the National Medical Products Administration (NMPA) has approved the clinical trial application of its Phase III trial of APL-1202 as single oral agent for the first-line treatment of Non-Muscle-Invasive Bladder Cancer (NMIBC).

“Apart from advancing competitive capacity, we are ready for drug commercialisation and manufacturing base construction. We also plan for new drugs listing toward soon-to-be done clinical trials or applications,” said Kevin Pan, founder and chairman at Asieris, in the statement. 

Prior to that, Asieris’ has been backed by state-owned Shenzhen Guozhong Venture Capital Management, Peking University-backed Yanyuan Ventures, Kaitai Capital, Zhongguancun Venture Capital Development, and Qihang Capital, among others.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.