Asieris Pharmaceuticals, which is focused on genito-urinary tumor treatments, has raised over 100 million yuan ($14 million) as part of its Series C round of financing led by Yanyuan Innovation Capital, according to a company statement on Tuesday.
State-owned Shenzhen Guozhong Venture Capital Management, biomedicine based investment firm Efund Capital, existing investors Lapam Capital and Kaitai Capital joined the round.
Asieris is expected to close its Series C+ round funding soon.
Founded in 2013 and located in East China’s Jiangsu province, Asieris’s pipeline APL-1202 is under phase III clinical trials in China and phase II trials in the US.
Headquartered in Taizhou, Asieris has set up divisions in Beijing and the US and an R&D centre in Shanghai.
Asieris will use the proceeds to further facilitate its proprietary biomedicine programmes.
Prior to the current round, the company had raised funding from lifesciences-focused venture capital firm TF Capital, private equity firm Phoenix Fund, ZGC Group-backed Qihang Capital, among others.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on March 24, 2020.