Sagimet Biosciences Secures $25 Million Series E Financing to Advance TVB-2640, a First-in-Class FASN Inhibitor for NASH Treatment

On August 6, 2019, VCBeat (WeChat ID: vcbeat) learned that U.S. biopharmaceutical company Sagimet Biosciences (formerly 3-V Biosciences) had completed a $25 million Series E financing round, led by the Chinese biotechnology company Ascletis.

Following this round of financing, Sagimet Biosciences will further develop TVB-2640, an inhibitor for the treatment of non-alcoholic steatohepatitis (NASH), and conduct Phase II clinical trials in the United States and China. Sagimet Biosciences has granted Ascletis Pharma an exclusive license to develop, manufacture, and commercialize TVB-2640 and related compounds in China.

It is reported that Sagimet Biosciences completed its Series A, B, C, and D financing rounds in 2007, 2009, 2013, and 2014, respectively, bringing its total funding to $140 million.

Sagimet Biosciences, a biopharmaceutical company founded in 2019 and headquartered in the United States, is developing TVB-2640, a leading oral FASN inhibitor that is rapidly absorbed by the human body. FASN is a key enzyme in de novo lipogenesis (DNL) and promotes the synthesis of excess fat in the livers of patients with non-alcoholic steatohepatitis (NASH). The company has established a proprietary FASN inhibitor platform.

Dr. Wu Jinzi, Founder and Chief Executive Officer of Ascletis, stated, “We are delighted to collaborate with Sagimet Biosciences. The results from the TVB-2640 trials have demonstrated a significant reduction in hepatic de novo lipogenesis, highlighting its promise as a therapy for nonalcoholic steatohepatitis (NASH). Currently, there are no approved NASH medications either in China or globally. We are pleased to develop TVB-2640 in the Chinese market and support Sagimet Biosciences in conducting Phase II multicenter clinical trials in both the United States and China.”

Dr. George Kemble, Chief Executive Officer of Sagimet Biosciences, stated, “The expertise and capabilities brought by Ascletis can further promote TVB-2640 on a global scale. We welcome Dr. Wu to the Board of Directors and look forward to collaborating with him.”

Dr. Rohit Loomba, Principal Investigator of the Phase 2 study of TVB-2640, stated, “I am pleased to see the progress of TVB-2640. This study will utilize advanced imaging techniques to assess the impact of TVB-2640 on hepatic steatosis, addressing this unmet medical need.”

Professor Wei Lai, Director of the Institute of Hepatology at Peking University, stated, “In 2016, approximately 243 million people in China had non-alcoholic fatty liver disease. By 2030, the number of patients is projected to rise to 314 million, with 2.3 million developing cirrhosis. TVB-2640, developed by Sagimet Biosciences, has the potential to improve this situation. It is encouraging that Chinese biotechnology companies are taking on the challenge of drug development.”

Ascletis is a biotechnology company founded in 2013 and headquartered in Hangzhou, Zhejiang Province. It is dedicated to the research, development, and commercialization of novel therapeutics for cancer and infectious diseases. The company’s core product portfolio includes medications for hepatitis C virus (HCV), human immunodeficiency virus (HIV), and hepatitis B virus (HBV). Ascletis boasts an experienced management team and has established a comprehensive integrated platform covering the entire value chain from development and manufacturing to commercialization. Through strategies centered on independent R&D, clinical validation, and global collaborations, the company has rapidly grown into a leading sustainable innovator in the pharmaceutical industry.

(Compiled by Hu Yifan)