China: Sequoia backs $32m Series B round in EOC Pharma

Gut microbiome. Credit: Natural Health 365

EOC Pharma Group (EOC), an oncology-focused development and commercialization company in China, has raised $32 million in a Series B funding round led by Taikang Investment.

Sequoia China, EOC’s Series A lead investor, and H&Q Asia Pacific, also participated in the round, according to a press release.

The Shanghai-based biopharma company is focused on in-licensing of innovative global oncology products, and developing, manufacturing and commercializing them for the China market.

Taikang committed its financial resources to EOC to support the further development of its platform designed to bring globally developed innovative drugs to patients in China who currently have limited treatment options.

The latest funding is expected to accelerate pipeline development including registration trials of two innovative cancer therapies in China

EOC claims it currently has a broad portfolio of drug candidates, including two innovative small molecule products expected to enter Phase 3 registration studies in China in 2018 for the treatment of breast cancer and gastric cancer, respectively.

The company’s pipeline also includes innovative biologics being developed for indications in immuno-oncology and tumour metastasis.

EOC Pharma founder and CEO Dr. Xiaoming Zou said the investment from the top funds underscores the confidence in EOC’s strategy to advance differentiated, globally developed oncology products that can transform patients’ lives.

“Our team’s unique track record for strategic partnering and commercialization in China, along with our dedicated manufacturing and local development capabilities, position EOC to successfully leverage the improved clinical and regulatory environment and rapidly growing healthcare market in China,” Zou said.

Taikang is the first private equity fund, of RMB5 billion, raised and managed by Taikang Investment and its partner Juneng Capital. It is focused on healthcare, consumer industry and SOE reform investment.

Taikang Investment is the PE platform of Taikang Asset Management. With over RMB1,100 billion AUM, Taikang Asset Management is one of the largest institutional investors in China.

Also Read: 

Genomics firm WuXi NextCODE raises $240m from Sequoia China, Temasek, others

Temasek leads $59 million Series B in biotech firm Just China 

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.