Aadi raises $23M series A round

Aadi Bioscience Inc. (Pacific Palisades, Calif.) raised $23 million in a series A led by Hermed Capital. Also participating were Celgene Corp. (NASDAQ:CELG), Vivo Capital, Decheng Capital, Helsinn Investment Fund and Star Summit Ventures.

Aadi gained rights to its sole asset, ABI-009, from Celgene in 2014. Next year, Aadi expects to complete enrollment in a Phase II registration trial of the therapy to treat advanced perivascular epithelioid cell tumors, a rare form of sarcoma. Spokesperson Paola Bonvicini declined to disclose when the company expects data from the study...