Chinese biopharma firm EOC Pharma snags $71m in Series C round

EOC has developed a pipeline of flagship products for oncology therapy.

EOC Pharma, an oncology-focused biopharmaceutical company, on Monday announced that it has secured nearly 500 million yuan ($71 million) in a Series C round of financing led by Tigermed, TF Capital, and Yingke PE. 

Hanne Capital and Everest Venture Capital Investment also participated in the round, while Life Venture served as financial advisor.

EOC had last raised $32 million in a Series B round in 2017 from Taikang Investment, Sequoia Capital China, and H&Q Asia Pacific. 

EOC was spun out of the oncology division of specialty pharma company Eddingpharm, which focuses on in-licensing, marketing and commercialising branded drugs from global pharmaceutical companies.

Headquartered in Taizhou, with offices in Shanghai, Beijing, Hong Kong, and Los Angeles, EOC manufactures and commercialises oncology products for China after securing licences. It has a pipeline of six novel products from global biopharmaceutical partners.

In a statement, EOC Pharma chief executive Xiaoming Zou said the firm will continue to develop top-notch therapies for oncology treatments and seek partnerships with professional teams in and outside China. 

In July, it inked a licensing agreement with Shionogi & Co to license-in epertinib, an HER2 (human epidermal growth factor receptor 2)/EGFR (epidermal growth factor receptor) inhibitor for focused development to treat brain metastasis in advance metastatic breast cancer patients.

The agreement allows EOC Pharma to develop, manufacture and market epertinib in mainland China, Hong Kong and Macau, and to start developing the product in mainland China. Shionogi will receive an upfront payment as well as milestone payments according to the progress of the product development and royalties on post-launch sales.

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).   

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  • 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.