BEIJING – EOC Pharmaceutical Group, of Shanghai, completed a series C financing round, bagging $71 million to advance its lead programs EOC-103 and EOC-315 for breast and gastric cancers. The round was led by Hangzhou Tigermed Consulting Co. Ltd. and its affiliated funds, TF Capital and Yingke PE.
PERTH, Australia – On the heels of positive phase IIb data, Opthea Ltd. announced a private placement of AU$50 million (US$33.87 million) from institutional investors in Australia and the U.K. to advance lead candidate OPT-302 to phase III trials in wet AMD.
BEIJING – Chinese clinical-stage cancer drug developer Tot Biopharm International Co. Ltd. went public on Hong Kong's stock exchange under the stock code of 1875 on Friday, raising HK$511.4 million (US$61.3 million) by issuing shares at HK$6.55 apiece. But its debut met with an unexpected setback, with share prices down nearly 7% in mid-morning. Prior to the listing, the company said its shares were oversubscribed by around 11.95 times and it "was well received by the capital market."
BEIJING – Antibody developer Akeso Biopharma Inc., from China's Guangdong province, closed a $150 million series D financing round to advance its pipeline, especially the two PD-1-based bispecific antibodies, AK-104 and AK-112, aimed to help it stand out in the fierce PD-1 space in China. "A significant portion of the proceeds will go to AK-104 and AK-112, which are both first-in-class drug candidates," Akeso CEO Michelle Xia told BioWorld. This year is a big one for Akeso, as AK-104 and AK-112 received IND approvals from the FDA in March and July, respectively.
Brisbane-based Kira Biotech Pty Ltd. is poised to enter the clinic after raising AU$20 million (US$13.72 million) in series A funding to develop therapies targeting immune system disorders. The round was led by Oneventures, one of Australia's leading venture capital firms with more than AU$330 million in funds under management.
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