ARTICLE | Financial News

Ascentage raises RMB500 million series B round

January 3, 2017 6:04 PM UTC

Ascentage Pharma Group Corp. Ltd. (Hong Kong, China) raised RMB500 million ($72 million) in a series B round led by Future Industry Investment Fund, a fund managed by a State Development & Investment Corp. Ltd. affiliate. Also participating were new investors Shiyu Capital, Hidragon Capital and Founder KIP Capital and existing investors YuanMing Capital, Oriza Venture Fund and EFung Capital. China Renaissance advised Ascentage on the deal.

The company is developing a pipeline of small molecules to treat cancer and HBV. Its most advanced program, AT-101, is in Phase II testing for chronic lymphocytic leukemia (CLL), glioblastoma multiforme (GBM) and head and neck cancer. The compound is a small molecule pan inhibitor of the B cell lymphoma 2 (BCL-2; BCL2) family of proteins...