Canbridge raises $10M in series A

Canbridge Life Sciences Ltd. (Beijing, China) raised $10 million in a series A round from Qiming Venture Partners and TF Capital. Canbridge in-licenses compounds from small biotechs in the U.S. and Europe to develop in China and elsewhere in East Asia (see BioCentury, Feb. 17).

The company has rights in China, Taiwan and South Korea to cancer compound ATI-1123 from Azaya Therapeutics Inc. (San Antonio, Texas); and rights from Jazz Pharmaceuticals plc (NASDAQ:JAZZ) to develop the company's Caphosol mucositis therapy in China. ATI-1123 is a protein-stabilized nanoparticle formulation of docetaxel that has completed Phase I testing in solid tumors in the U.S. ...