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.