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.