Pheon Therapeutics Ltd. is working to bring next-generation antibody-drug conjugate (ADC) payloads and enhanced tolerability into the clinic after closing a $68 million series A.

Cleara Biotech BV has closed a $2.5 million seed financing round, the proceeds of which will be used to progress its compounds toward clinical development and build the company's developmental pipeline.

Life science startup Surge Inc. raised $2.6 million in a financing led by Hcvd and Boutique Venture Partners. The funds will be used to advance its artificial intelligence (AI)-powered technology aimed at making a patient’s surgical journey safer.

Following on a trifecta of regulatory wins, Optellum Ltd. raised $14 million in a series A funding round to commercialize its artificial intelligence (AI)-enabled lung cancer diagnostic platform. Optellum’s Virtual Nodule Clinic, which helps physicians identify and monitor patients at-risk of lung cancer, has received U.S. FDA clearance, CE-MDR in the European Union and UKCA in the U.K.

Jilin Huisheng Biopharmaceutical Co. Ltd., a non-wholly owned subsidiary of Sihuan Pharmaceutical Holdings Group Ltd., has raised ¥500 million (US$70 million) in a series A round. Huisheng, which has developed a pipeline of programs addressing both diabetes and its complications, plans to use the new funds to speed up its clinical trials and purchase manufacturing equipment, according to Che Fengsheng, executive director and chairman of Sihuan Pharma.

Innocare Pharma Ltd. raised ¥2.92 billion (US$412 million) in a second listing on the Shanghai STAR Market. Its shares opened at ¥10.86 apiece, sliding 15.4% to close at ¥9.33 on the first trading day, Sept. 21. The company will use the proceeds to support cancer and autoimmune drug R&D, improve its drug development platform, build its sales network, and upgrade its information technology, said Chief Commercial Officer Jin Xiaodong.