TransThera Bio Closes Series C Funding Round
According to gbihealth.com, on July 22, 2020, Nanjing TransThera Biosciences Co. Ltd ("TransThera Bio") announced the closure of Series C financing, led by SDIC CMC Capital (GBI translation), a joint venture between SDIC Fund Management Co., Ltd and China Merchants Capital Investment Co., Ltd, alongside contributions from Oceanpine Healthcare Fund-Nanjing Jiangbei Medical Innovation Industry Fund, SDIC Venture Capital, Nanjing Fengling Investment, Ennovation Ventures, Eastern Handson, GP Healthcare Equity Investment Fund and Grandyangtze Capital. Together with its previous Series B financing, the total funding amount has been brought to more than US$60 million.
The proceeds will go towards global clinical development of core products, commercialization, internationalization, and product pipeline enrichment.
TransThera Bio is a clinical-stage small-molecule drug developer focused on cancer, cardiovascular diseases, and metabolic diseases. Lead candidate TT-00420, a selective multi-kinase inhibitor with unique mechanism of action, is undergoing Phase I clinical studies in the US and China in solid tumors such as triple-negative breast cancer and cholangiocarcinoma, with US FDA orphan drug designation (ODD) for the latter.
The research and business strategies of TransThera Bio zero in clear unmet medical needs in oncology and inflammatory diseases through internal research and open innovation. It has a competent management team and a highly experienced science team. Bearing a mission to deliver transformative therapies to global patients, the company has established an R&D engine with multi-disciplines. TransThera Bio is committed to creating a wealth of ground-breaking first-in-class and best-in-class products with global competitiveness.
About SDIC CMC Capital
SDIC CMC Capital is a private equity firm jointly led and established by SDIC Fund and China Merchants Capital. The company is responsible for the operation and management of the Beijing-Tianjin-Hebei industrial coordinated development fund. The first phase of the fund has a scale of 10 billion yuan.
About Oceanpine Healthcare Fund
Oceanpine Healthcare Fund is a healthcare venture fund that aims to connect innovation in the US to the Chinese consumer base, and primarily invests in Chinese and US firms with core technologies and proprietary R&D capabilities. They bridge a supply and demand gap exacerbated by limited R&D in China.
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