CPE, China Structural Reform Fund lead $100m round in biotech firm TransThera

Photo by Louis Reed on Unsplash

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.

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. 
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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.