Chinese biotech firm Ascentage Pharma secures $150m in Series C round

Chinese biotech firm Ascentage Pharma secures $150m in Series C round

An automated machine works on purification of potential hepatitis C virus drug candidate at the Gilead Sciences Inc. lab in Foster City, California, U.S., on Wednesday, Feb. 8, 2012. Photographer: David Paul Morris/Bloomberg

Anti-tumour drug researcher Ascentage Pharma has secured a funding of approximately $150 million in a Series C round co-led by existing investors YuanMing Prudence Fund and Oriza Seed Venture Capital as well as new investor Teng Yue Partners.

Other investors joining the round are ArrowMark Partners, HDY International Investment, CTS Capital and CCB International, the company said in a release.

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