SHANGHAI, and Taizhou, Jiangsu, China, MAY 18, 2018 – Asieris Pharmaceuticals Co. Ltd. (Asieris Pharmaceuticals, or Asieris) announced follow-on investment to its B round funding. Additional investors includeXizang Hongling、 Beijing Jinggong Hongyuan and Beijing Biossom Investment Management Co. Ltd. With the follow-on investment, the B round has reached 130 million RMB. The B round of funding was led by Lapam Capital, and BFC Group was the exclusive financial advisor. The proceeds from the B round will be used to fund APL-1202’s registration clinical trial currently under rapid recruitment at 40 Chinese clinical centers, the manufacturing of APL-1202, the conduct of a Phase II trial in the United States for APL-1202 , and other ongoing projects.
Asieris Pharmaceuticals was founded in 2010 and aspires to becoming a China-based biotech company with global impacts. Asieris has business and R&D operations in Shanghai, Beijing, and in the China Medical City of Taizhou, Jiangsu Province. Asieris’ multi-disciplinary R&D team with deep technical expertise is led by several experienced “returnees”, with a focus on the discovery and development of innovative drugs to address significant unmet medical needs, such as cancer.
APL-1202, Asieris’ leading drug candidate, has been supported by China’s 12th and 13th “National 5-Year important Innovations” funding programs. Developed from an invention in-licensed from the Johns Hopkins University, APL-1202 has a novel mechanism of action, and currently is the only oral drug in the world under Pivotal Trial for the treatment of non-muscle invasive bladder cancer. Positive efficacy and safety results from the completed Phase II Proof-of-Concept trial have been presented at the 2016 European Association of Urology (EAU) Congress, the 2017 Bladder Cancer Research Symposium organized by the Albert Institute and MD Anderson Cancer Center, and at the 2017 Annual Meeting of Chinese Society of Clinical oncology (CSCO). Asieris’ APL-1501 has been granted one of the programs under China’s 13th “National 5-Year important Innovations: Development of drugs and critical technology platforms for the prevention and treatment of multi-drug resistance (MDR)”. In addition to its proprietary drugs, anti-cancer and anti-MDR platforms, Asieris is currently in active negotiation with multiple international pharmaceutical and biotech companies for partnerships in China and global markets.
About Lapam Capital
Lapam Capital is a Beijing-based RMB venture capital firm currently managing three funds with a total of more than 2 billion RMB. Lapam Capital focuses on Chinese biotech companies at various stages with advanced technologies and leadership in key market segments including small-molecular drugs, biologics and high-end medical devices. The number of marketed Class 1 small-molecular drugs from its portfolio companies is more than 50% of the total number of Class 1 small-molecular drugs from private pharmaceutical companies in China. Lapam Capital is dedicated to providing comprehensive value-added services to its portfolio innovative drug and medical device companies.
About Xizang Hongling Capital
Xizang Hongling Venture Capital Center (limited partnership) was founded in December, 2017, and is devoted to new drug development and novel medical technology in China. The management team comprises of seasoned industry experts and investment banking experts, and can provide comprehensive, high-quality value-added services for enterprises. In addition, through accelerating the commercialization of advanced technologies in the health care industry, the company can provide better products and services to patients, hereby lessening the social burden and improving the social wellbeing.
About Beijing Jinggong Hongyuan Fund
The Beijing Jinggong Hongyuan Fund is jointly sponsored by Zhongguancun Development Group, Henan Investment Group, the Education Foundation of Beijing Institute of Technology, the Haidian District government, and Park Hong Capital. The Fund is dedicated to assist the commercialization of innovations from academic institutions in emerging industries of national strategic importance. The total size of the Fund is 1 billion RMB, with a Phase One of 500 million RMB. The Fund primarily invests in projects of national strategic importance and with commercialization potential, focusing on biomedicine, health technologies, military and civilian integration, new materials, high-end equipment manufacturing, new energy automobile, mobile internet, next generation internet, navigation and location services, integrated circuit design, and cloud computing.
About Beijing Biossom Investment Management Co. Ltd.
Beijing Biossom Investment Management Co. Ltd. was founded in July 2015 and is located in Fengtai Science and Technology Park, Beijing. It primarily invests in enterprises with innovative biomedicine, innovative medical devices, and innovative healthcare technologies. By leveraging the biological and pharmaceutical industry resources of the Beijing Promotion Center for Biotechnology and New Pharmaceutical Industries, and the expertise of its management team, the Fund is devoted to investing in biopharmaceutical enterprises with original innovation, integrated innovation, or substantially improved technologies, and in initial or early to middle stage of development. Members of the management team all have more than ten years of experience in venture investment, are capable of providing value-added services for the invested enterprises, and assist the growth of the enterprises. They can also assist the enterprises establish contemporary management system, obtain follow-on funding, submit funding application, integrate resources to drive sales growth, as well as provide valuable technological and market intelligence.
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