Aurora Pharmaceuticals Completes Series C Financing to Accelerate Development of First-in-Class Global Innovative Therapies

VCBeat (WeChat ID: vcbeat) has learned that on March 24, 2020, Asieris Pharmaceuticals (“Asieris”) announced the completion of its Series C financing, raising hundreds of millions of RMB. The Series C+ round is also expected to be completed in the near future. This round was led by Yanyuan Innovation Capital, with participation from Guozhong Venture Capital, Yifeng Capital, and other investment firms. Existing investors from the Series B round, Beijing Longpan and Kaitai Capital, continued to increase their investments in this round through cooperative funds. The proceeds will be used to support the advancement of multiple independently developed projects within the company.

Asieris Pharmaceuticals’ flagship project, APL-1202, was included in China’s National “12th Five-Year” and “13th Five-Year” Major New Drug Creation Special Programs. It is a global first-in-class innovative oral drug for the treatment of non-muscle-invasive bladder cancer (NMIBC) that has entered registration-enabling clinical development. Currently, the standard first-line pharmacological therapy for preventing recurrence after surgery for NMIBC is intravesical chemotherapy or Bacillus Calmette-Guérin (BCG) instillation, a process that causes significant patient discomfort and severe adverse reactions. In contrast, APL-1202, an oral agent with a novel anti-tumor mechanism, offers a convenient, painless, and urethra-sparing treatment course, helping patients avoid or delay radical cystectomy. APL-1202 has completed enrollment of all patients in its Phase III clinical trial in China and has also finished its Phase I clinical trial in the United States, with its U.S. Phase II clinical trial poised to commence shortly.

Cevira®, a photo-pharmaceutical and medical device combination product under development by Asieris for the non-surgical treatment of cervical precancerous lesions, is scheduled to initiate an international, multicenter Phase III clinical trial in China, the United States, and Europe in 2020, predominantly enrolling Chinese patients. Cevira® is indicated for the treatment of patients aged 18 years and older with histopathologically confirmed high-grade squamous intraepithelial lesion (HSIL) of the cervix. The current standard of care for these patients is surgical intervention, most commonly loop electrosurgical excision procedure (LEEP/LLETZ) and cold knife conization (CKC). However, these surgical treatments are associated with adverse events, including bleeding, infection, and organic cervical damage that can lead to subsequent impacts on fertility, such as preterm birth and miscarriage. Therefore, Cevira® will provide a new therapeutic option for patients in China and globally, sparing some patients from the pain and side effects of surgical treatment, particularly the risks posed to future pregnancies. Cevira® also received the 2019 Best Medical Device Innovation Award at the internationally renowned Fierce Life Sciences Innovation Awards.

Another investigational project of Asieris, APL-1501, is also included in the National “Major New Drug Creation” Special Project during the 13th Five-Year Plan period. This project primarily focuses on the treatment of multidrug-resistant (MDR) infections. Compared with traditional antibiotics, APL-1501 features a novel bacteriostatic mechanism and demonstrates potent bactericidal activity against a broad spectrum of Gram-positive and Gram-negative drug-resistant bacteria. It has shown significant efficacy in animal models of systemic MDR infections. APL-1501 holds substantial significance in addressing the severe challenge of untreatable MDR infections currently faced globally, particularly in China. In addition to its multiple independently developed new drug candidates and proprietary technology platforms, Asieris is engaged in discussions with numerous biopharmaceutical companies both domestically and internationally to collaboratively develop the Chinese and overseas markets.

Dr. Pan Ke, Co-founder and CEO of Asieris Pharmaceuticals, stated, “This Series C financing round, led by Yanyuan Innovation Capital, provides strong support for the subsequent development of Asieris Pharmaceuticals. We are deeply grateful to the investors for their recognition of our R&D strategy, projects, and technologies. After ten years of accumulation, 2020 will be a year of rapid growth for Asieris, with multiple projects poised to complete clinical trials or submit applications for new drug approvals. Asieris will also embark on a new journey, formally transitioning from an R&D-focused company into an integrated pharmaceutical enterprise encompassing research, production, and sales, to bring innovative therapeutic drugs and superior treatment options to more patients at an earlier stage.”

Yanyuan Innovation Capital has always adhered to the philosophy of value investing. In recent years, it has made significant strides in the life and health sector, particularly in niche industries such as biopharmaceuticals and medical devices. Liu Zeng, President of Yanyuan Innovation Capital, commented, “Asieris Pharmaceuticals boasts a rich product pipeline and a unique technology platform, holding breakthrough potential in its focused area of urogenital tumors. We believe that the Asieris team, led by Dr. Pan, can fully leverage the advantages of domestic and international technologies, talent, capital, and markets to establish Asieris as a leading pharmaceutical company both in China and globally. We are delighted to participate in Asieris’ growth journey.”

Since its establishment in 2010, Asieris Pharmaceuticals has adhered to the belief of “improving human health and making life more dignified,” striving to become the most innovative, influential, respected, and trusted pharmaceutical company in its specialized field. Asieris Pharmaceuticals has business operations distributed across Shanghai, Beijing, Taizhou Medical City in Jiangsu Province, and the United States. The company has established a research and development center in Shanghai, building an international professional R&D technical team focused on the global innovation of drugs for anti-tumor treatments and related diseases in the urogenital system. Previously, Asieris Pharmaceuticals’ Series A and Series B financing rounds were led by well-known venture capital firms such as Tofu Capital and Beijing Longpan.

Asieris Pharmaceuticals was established in March 2010 in China Medical City, Taizhou, Jiangsu Province, and has set up an R&D center in Shanghai. It is a domestic global innovative drug R&D company focused on anti-tumor and related diseases of the urogenital system. Asieris Pharmaceuticals is committed to becoming the most innovative, influential, respected, and trusted pharmaceutical enterprise in its specialized field. The company focuses on the urogenital area and has rapidly established a leading position and implemented in-depth strategic layouts in this field. Asieris Pharmaceuticals fully explores the global value of independently developed first-in-class new drugs with breakthrough therapeutic potential, while also introducing new drugs that are in late-stage development or already marketed overseas into the Chinese market. This enhances the diversity and synergy of its product pipeline and quickly establishes a leading position in the domestic market.

Yanyuan Innovation Capital, formerly known as "Yanyuan Capital Group," was founded in June 2010. Initiated by Peking University alumni engaged in venture capital and the commercialization of university technological achievements, with the advocacy and support of the Science and Technology Development Department of Peking University, it serves as an investment and capital operation platform for high-tech enterprises. The firm currently operates three core business segments: equity investment, securities investment, and cooperation with listed companies including mergers and acquisitions (M&A) and restructuring. Headquartered in Beijing, Yanyuan Innovation Capital established its presence in Ningbo, Zhejiang Province in 2015, opened its Hangzhou office in 2018, and set up its Shanghai office in 2019. The team has grown to nearly 70 members.The total assets under management (AUM) of venture capital funds, industrial funds, funds of funds (FOFs), and securities funds directly or indirectly managed by Yanyuan Innovation Capital have exceeded RMB 6 billion. The firm has five registered private fund managers and more than 30 registered private funds. It has invested in over 50 projects, with more than 10 portfolio companies having gone public or filed for IPOs in the past three years. Its investment focus spans industries such as biopharmaceuticals, advanced manufacturing, and next-generation information technology. In 2019, two of the four portfolio companies that listed on the STAR Market were in the biopharmaceutical sector. Notably, Zeltigen Pharmaceuticals, in which Yanyuan Innovation Capital led the investment, became the first unprofitable biopharmaceutical company to list on the STAR Market under Listing Standard V.

Shenzhen Guozhong Venture Capital Management Co., Ltd. is a private equity investment institution specializing in the entrusted management of venture capital. Guozhong Venture Capital advocates an investment philosophy that prioritizes research and integrates investment with research. By guiding investments through in-depth industry chain analysis, it focuses on investment opportunities in strategic emerging industries, with key investments in outstanding enterprises in three major sectors: technological innovation, biopharmaceuticals and general health, and TMT (Technology, Media, and Telecom).

Yifeng Capital is a professional investment firm specializing in venture capital (VC) and private equity (PE) investments in the biopharmaceutical sector. Leveraging a global perspective, it deeply explores and integrates biopharmaceutical project resources. Its investment team is led by PhDs in biopharmaceutical disciplines from top-tier universities in China, the United States, Europe, and Japan, achieving a globally diversified talent structure and project resource layout. Renowned for its outstanding investment performance and exceptional investment research capabilities, Yifeng Capital has received accolades such as “China’s Most Dynamic Drug Innovation Investment Institution” and “China’s Best Emerging VC Manager,” and has been consecutively ranked among the “Top Ten Venture Capital Firms in Shenzhen” for multiple years.

Caitai Capital, established in 2009, is a professional venture capital management firm primarily engaged in innovation investment, industrial investment, and wealth management. Its investment sectors encompass life sciences and general health, community innovation and consumption upgrading, as well as artificial intelligence and digital technology. The total assets under management by Caitai Capital have cumulatively exceeded RMB 50 billion, achieving an initial global investment footprint across the United States, Europe, and China.