Chinese clinical-stage biotech firm TransThera Biosciences has raked in about $100 million in a Series D round of financing to further the development of its pipeline products in the global market.
The Series D round was jointly led by CITIC’s alternative asset management unit CPE and China Structural Reform Fund. Hong Kong-listed financial institution China Renaissance, the exclusive financial advisor to the deal, announced the development in a WeChat post on Friday.
Other investors include Sixty Degree Capital, China Merchants Capital, GP Healthcare Capital, CoStone Capital, Winfast Holding, and existing shareholders.
Nanjing-headquartered TransThera specialises in developing innovative therapeutics to target diseases with major unmet needs. Its current portfolio covers areas, such as oncology, cardiovascular, and inflammatory diseases.
Founded in June 2016, the firm has four self-developed, innovative therapeutics at the clinical or pre-clinical stage. Its most advanced pipeline product, TT-00420, is a clinical-stage spectrum-selective kinase inhibitor that exerts anti-tumour effects by targeting tumour cells and improving the tumour microenvironment. The company announced in March to have completed the Phase I dose escalation clinical trial of TT-00420 in China and the US.
The new investment will help TransThera continue the global development of its product pipeline as part of the firm’s “strategic internationalisation and commercialisation goals,” said chairman and CEO Wu Yongqian in the post.
About six months earlier, TransThera announced the completion of a Series C+ round at over $50 million led by CoStone Capital.
In July 2020, the firm closed a Series C round led by China’s CMG-SDIC Capital. It did not disclose the size the Series C round. But in a statement, TransThera said that and its previous Series B round brought in more than $60 million in total financing.