Asieris Pharmaceuticals Completes $108M Series D Financing Led by Qiming Venture Partners

VCBeat (WeChat: Vcbeat) has learned that Jiangsu Asieris Pharmaceuticals Co., Ltd. (“Asieris”), a global innovative drug R&D company focused on anti-tumor and related diseases of the urogenital system, announced today the completion of its Series D financing round. Led by Qiming Venture Partners, this round raised over RMB 700 million.

Asieris Pharmaceuticals adheres to its mission of “improving human health and enabling life with greater dignity.” The company continues to deepen its strategic layout in the focused field of genitourinary systems, constantly enriching its R&D platforms and product pipeline, with multiple projects currently in clinical and preclinical development stages. The funds raised in this round will be used to support the development of existing pipeline products, build technological platforms, and accelerate commercialization and industrialization.

One of Asieris Pharmaceuticals’ key projects, APL-1202, is a therapeutic product for non-muscle-invasive bladder cancer (NMIBC). It is the first oral, reversible methionine aminopeptidase 2 (MetAP2) inhibitor worldwide to enter Phase III clinical trials. As an oral agent with a novel anti-tumor mechanism, APL-1202 aims to help patients avoid or delay radical cystectomy. The Chinese Phase III clinical trial of APL-1202 in combination with intravesical chemotherapy for intermediate- and high-risk NMIBC that has recurred after intravesical chemotherapy has completed enrollment. The company is also preparing to initiate Phase II clinical trials in China and the United States evaluating APL-1202 in combination with immunotherapy agents. Last month, the Investigational New Drug application for a Phase III clinical trial of APL-1202 monotherapy as first-line treatment for intermediate-risk NMIBC was approved in China.

Asieris’ other photodynamic drug-device combination product, APL-1702 (Cevira®), indicated for the non-surgical treatment of high-grade squamous intraepithelial lesions (HSIL) of the cervix, has been approved to conduct international multi-center Phase III clinical trials and will administer the first dose globally in the near future. APL-1702 will provide a new treatment option beyond surgery for female patients in China and around the world, sparing some patients from the pain and side effects associated with surgical interventions, particularly the impact on fertility.

APL-1501, an independently developed product by Asieris Pharmaceuticals through its Proprietary Advanced Drug Development (PADD) platform for improved new drugs, has recently received approval from Australian regulatory authorities to formally initiate Phase I clinical trials. As the second-generation successor to APL-1202, APL-1501 will expand its clinical indications to include conditions such as prostate cancer and urinary tract infections, and is intended for global market development.

“We are honored to have gained the recognition and support of China’s leading investment institutions and to have rapidly completed our Series D financing. The completion of this financing marks Asieris Pharmaceuticals’ official entry into a new stage of development,” stated Dr. Pan Ke, Founder and CEO of Asieris Pharmaceuticals. “In addition to continuously enhancing our R&D capabilities, Asieris has begun preparations for commercialization and will initiate the construction of production facilities. These efforts aim to fully prepare for the market launch of multiple pipeline products that are nearing the completion of clinical trials or applying for New Drug Applications, with the goal of bringing superior therapeutic drugs and solutions to patients in China and around the world as soon as possible.”

“As one of the few innovative pharmaceutical companies in China dedicated to developing novel therapies for genitourinary cancers and related diseases, Asieris has become a global industry leader by combining independent R&D with strategic licensing-in. We are pleased to see that Asieris has been reaching significant milestones in recent years. We believe that as its in-house innovation capabilities continue to strengthen, Asieris will surely address unmet medical needs and bring benefits to patients,” said Dr. Chen Kan, Executive Director at Qiming Venture Partners.

This round of financing was led by Qiming Venture Partners, with participation from Yunfeng Capital, CICC Transfar Fund under CICC Capital, Yicun Capital, Hengxu Capital, Hongxin Capital, Gopher Asset Management, C&D Emerging Investment, Hanrun Capital, QinZhi Capital, Yueyin Fund, and Haoshuo Zhi'er.

Asieris Pharmaceuticals was established in March 2010 in China Medical City, Taizhou, Jiangsu Province, with the aspiration to become a leading pharmaceutical company driven by innovative technologies and products, focusing on the genitourinary system. The company’s employees and operations are distributed across Shanghai, Taizhou (Jiangsu), Beijing, and the United States, with its R&D center located in Jinqiao, Shanghai.

Asieris adheres to a development model prioritizing independent R&D while supplementing it with external in-licensing, rapidly establishing a leading position and implementing deep strategic layouts in its focused therapeutic areas. The company fully leverages the global value of first-in-class novel drugs with breakthrough therapeutic potential and possesses unique proprietary platforms for the independent development of new drugs, including those for anti-tumor and anti-drug-resistant infection indications. Additionally, Asieris introduces novel drugs that are in late-stage development or already marketed overseas into the Chinese market, enhancing the diversification and synergy of its product pipeline in focused areas and swiftly securing a leadership position in the domestic market.

Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages nine U.S. dollar funds and five RMB funds, with total assets under management exceeding USD 5.6 billion. Since its inception, the firm has focused on investing in outstanding early- and growth-stage companies in sectors such as TMT and healthcare.

To date, Qiming Venture Partners has invested in more than 370 high-growth innovative companies, of which over 120 have achieved exits through listings on exchanges such as the New York Stock Exchange, NASDAQ, the Hong Kong Stock Exchange, the Taipei Exchange, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange, as well as through mergers and acquisitions. More than 30 of these portfolio companies have become industry-recognized unicorns and super unicorns.