BioCentury
ARTICLE | Financial News

Ascentage continues trend of large Chinese-led rounds

July 20, 2018 4:54 PM UTC

Ascentage Pharma Group Corp. Ltd. (Hong Kong, China) raised about $150 million in a series C round co-led by existing investors YuanMing Prudence Fund and Oriza Seed Venture Capital and new investor Teng Yue Partners. Also participating were new investors ArrowMark Partners, HDY International Investment, CTS Capital and CCB International.

Ascentage Chairman and CEO Dajun Yang told BioCentury the non-tranched, mezzanine round will give the company three years of runway. He added that the company is planning an IPO "in a year" and will consider options in both the U.S. and Hong Kong...