BioCentury
ARTICLE | Financial News

3-V raises $18M, partners NASH program with Ascletis

February 13, 2019 8:18 PM UTC

3-V Biosciences Inc. (Menlo Park, Calif.) raised a $18 million series E round and granted lead investor Ascletis Pharma Inc. (HKEX:1672) exclusive rights in Greater China to TVB-2640, an inhibitor of fatty acid synthase (FASN; FAS) in development to treat non-alcoholic steatohepatitis and cancer.

Qianhai Ark Investment Co. Ltd., New Enterprise Associates and Kleiner Perkins also participated in the round. The investors agreed to jointly contribute an additional $7 million in a second close of the series E or a subsequent round. Including the new equity commitment, Ascletis has agreed to provide 3-V with up to $10 million...