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.

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