Eyeing IPO, Canbridge raises $98M to advance, commercialize products

Canbridge raised $98 million in a series D round to build out its commercial infrastructure in anticipation of two potential NDA approvals in mainland China this year. Canbridge also intends to solidify its rare disease leadership position in China as it looks ahead to a public listing.

General Atlantic and WuXi AppTec Co. Ltd. (Shanghai:603259; HKEX:2359) led the round, and each may invest an additional $10 million. Also participating were new investors RA Capital, Hudson Bay Capital and YuanMing Prudence Fund and existing investor Tigermed. ...