Lapam leads Canbridge's $25M series B

Canbridge Life Sciences Ltd. (Beijing, China) raised $25 million in a series B led by Lapam Capital. Also participating were Qiming Venture Partners, Yuanming Capital, Yanyuan Capital, Biossom Investment Management and WuXi AppTec Co. Ltd. (Shanghai, China).

Canbridge seeks primarily to in-license rights in China and East Asia to candidates from companies in the U.S. and Europe, and then develop the compounds in parallel with their Western counterparts. The company's lead candidates CAN008 (APG101) and CAN017 (AV-203) are in development to treat glioblastoma multiforme (GBM) and esophageal squamous cell cancer (ESCC), respectively (see BioCentury, Feb. 17, 2014)...