Ascletis closes $35M financing

Ascletis Pharmaceuticals Co. Ltd. (Hangzhou, China) raised $35 million in a venture round led by C-Bridge Capital at a pre-money valuation of $300 million. Tasly Pharmaceutical Co. Ltd. (Shanghai:600535) and Pavilion Capital also participated.

This month, Ascletis plans to begin the Phase II EVEREST trial in Taiwan of danoprevir ( ASC08) plus ASC16 ( PPI-668) to treat HCV. A clinical trial application (CTA) for the regimen is under China FDA review (see BioCentury Extra, Aug. 31). ...