Baoyuan Medicine Completed Around $14 Million in Series A Financing for New Cancer Drugs

On May 15, 2019, Baoyuan Medicine just completed around 14 million dollars in Series A financing from Decheng Capital. This round of financing will be used for the establishment of the Baoyuan Medicine's team, and carry out the 2^nd phase of the clinical trial of their product AB-106, and improve the company's production pipelines.

Baoyuan Medicine was founded back in November 2018, they mainly focus on acquiring, developing and commercializing new drugs that can improve human health.

Early clinical trials have shown that AB-106 has good safety and efficacy records and exhibits long progression-free survival in patients with non-small cell lung cancer containing the ROS1 fusion gene. Recent advances show that AB-106 has completed Phase 1 clinical trials in the United States and Japan for the treatment of patients with solid tumors and neuroendocrine tumors containing ROS1 or NTRK fusion genes. 

CEO of Baoyuan Medicine, Dr. Junyuan Wang, said: "In addition to acquiring clinical assets through collaboration with large and medium-sized biopharmaceutical companies, we are also considering introducing projects that have not entered the clinical phase but have demonstrated good potential in animal experiments to build new product pipelines".

Located in Shanghai and Silicon Valley, Decheng Capital is a leading investment firm that provides capital and strategic support to early-stage life science companies with revolutionary technologies and growth stage healthcare companies with strong market presence.