Rakuten’s Mikitani leads Aspyrian's $150M series C

Rakuten Aspyrian Inc. (San Diego, Calif.) raised $150 million on Aug. 23 in a series C round led by Chairman Hiroshi Mikitani, who is CEO of Japanese e-commerce company Rakuten Inc. (Tokyo:4755). The round included other undisclosed private investors.

Rakuten Aspyrian is planning a Phase III trial of lead therapy ASM-1929 (formerly RM-1929) to treat squamous cell cancer of the head and neck (SCCHN). The therapy consists of cetuximab conjugated to chemical dye IRDye 700DX, and is activated by near-infrared light to induce cell death in tumors expressing EGFR...