SHANGHAI – Newly created oncology biotech, CBT Pharmaceuticals, of Santa Clara, Calif., has received $9.75 million in series A financing from venture investors led by Orbimed Healthcare Fund Management Asia, with an additional $2 million available in warrants. CBT Pharmaceuticals is an off-shoot of the discovery and preclinical service company, Crown Biosciences Inc. (Crownbio), which has research centers in China, U.K. and the U.S.