Asieris Pharmaceuticals Secures Over RMB 100 Million in Series B Financing to Advance Innovative Oncology and Anti-Infective Drug Development

VCBeat (WeChat ID: vcbeat) has learned that on December 27, 2017, Jiangsu Asieris Pharmaceuticals Co., Ltd. (“Asieris”) announced the completion of its Series B financing round, raising over RMB 100 million. The round was led by Longpan Fund, with participation from Caitai Capital, Zhongguancun Qihang Fund, and Phoenix Investment, among others. BFC Capital served as the exclusive financial advisor for this financing.

The funds raised in this round will be primarily used to support the registration clinical trials of APL-1202, which are being rapidly expanded across 40 clinical centers in China, as well as drug manufacturing, the U.S. Phase II clinical trial scheduled to launch in 2018, and other ongoing research projects.

Asieris Pharmaceuticals, established in 2010, is committed to becoming an innovative drug R&D enterprise based in China with international influence. Asieris has set up business and R&D centers in Shanghai, Beijing, and Taizhou Medical City in Jiangsu Province, and has built a multidisciplinary, specialized R&D technical team led by several senior overseas-returning experts, focusing on the development of innovative drugs with significant therapeutic value, such as anti-tumor drugs. The Series A investors of Asieris are Wanchuan Healthcare Industry Group and Taifu Capital.

APL-1202, developed by Asieris Pharmaceuticals, is a project under China’s National “12th Five-Year” and “13th Five-Year” Major New Drug Creation Special Programs. Building upon patented technology licensed from Johns Hopkins University in the United States, this independently developed innovative oral drug targets a novel mechanism and is the only one globally to have entered Phase III clinical development for the treatment of non-muscle-invasive bladder cancer.

The positive efficacy results from the Phase II clinical trial of APL-1202 in China were presented at the 2016 Annual Congress of the European Association of Urology (EAU), the 2017 Conference on Bladder Cancer Treatment and Research hosted by the Albert Institute and MD Anderson Cancer Center, and the 2017 Annual Meeting of the Chinese Society of Clinical Oncology (CSCO).

Asieris’ APL-1501 project is part of the National “13th Five-Year” Major New Drug Creation Special Project: Research on Drug Varieties for the Prevention and Treatment of Drug-Resistant Bacteria and Common Key Technologies.” In addition to its independently developed new drug projects and proprietary anti-tumor and anti-drug-resistance technology platforms, Asieris is also in discussions with multiple foreign biopharmaceutical companies to collaboratively develop the Chinese and overseas markets.

“Asieris aims to establish technological and product advantages in our focused therapeutic areas, providing better treatment options for patients both in China and abroad,” said Dr. Pan Ke, Chairman and CEO of Asieris Pharmaceuticals. “This round of financing marks Asieris’ entry into a new phase of rapid development toward this goal. We appreciate the investors’ recognition and support of Asieris Pharmaceuticals’ new drug development strategy, projects, and technologies.”

“Asieris’ new drug projects hold breakthrough potential in the fields of bladder cancer and multidrug-resistant infections, both domestically and internationally,” commented Mr. Yu Zhihua, Chairman of Longpan Capital. “We believe that the Asieris team, led by Dr. Pan, can fully leverage the advantages of technology, talent, capital, and markets both in China and abroad to establish Asieris Pharmaceuticals as a leading pharmaceutical enterprise in the anti-tumor and anti-infective therapeutic areas, particularly in genitourinary oncology.”

Longpan Capital

Longpan Investment, headquartered in Beijing, is a RMB-denominated venture capital firm focused on investment opportunities in China’s biopharmaceutical sector. The firm currently manages three funds with total assets under management exceeding RMB 2 billion, covering early-to-mid stage, growth-stage, and mature-stage investments. Its portfolio focuses on technologically advanced biopharmaceutical companies, with key market segments including innovative chemical drugs, innovative biological drugs, and high-end medical devices. Longpan Investment has invested in dozens of biopharmaceutical enterprises; notably, its portfolio accounts for approximately half of all Class 1 innovative chemical drug candidates developed by domestic pre-commercialization pharmaceutical companies. The firm provides comprehensive value-added services urgently needed by the Chinese innovative drug and medical device companies in which it invests.

Kaitai Capital

Caitai Capital, established in 2009, is a professional venture capital management firm primarily engaged in innovation investment, industrial investment, and wealth management. Its investment portfolio spans healthcare, culture and entertainment, innovative consumption, financial services, life sciences, and artificial intelligence. Currently, the total assets under management by Caitai Capital amount to tens of billions of RMB.

Kaitai Capital’s management team was established by some of the earliest managers of innovation-focused venture capital funds in China. Having navigated multiple macroeconomic, industrial, and fund management cycles, the team has developed a comprehensive knowledge system, professional expertise, methodology, and value framework for innovation-driven investing. Adhering to its core values of “Discovering Value, Creating Value, and Sharing Value,” Kaitai Capital has built a professional venture capital management brand spanning innovation investment, industrial investment, and wealth management, dedicated to serving the development of China’s innovation economy and innovation investment landscape. Kaitai Capital prioritizes innovative pharmaceuticals as a key investment focus within the healthcare sector, promoting the industrial translation of research achievements that deliver clinical benefits to patients, and is committed to accelerating the rapid development of China’s healthcare industry.

Zhongguancun Development Group Qihang Fund

Zhongguancun Development Group was established in April 2010 as a large state-owned enterprise under the Beijing Municipal Committee and Municipal People’s Government. It was founded to further accelerate the development of the Zhongguancun Demonstration Zone, strengthen municipal-level coordination, and leverage market-based mechanisms for the allocation of innovation resources.

Zhongguancun Development Qihang Industrial Investment Fund (the “Qihang Fund”) is an equity investment fund for high-tech enterprises, initiated and vigorously developed by Zhongguancun Development Group and operated independently on a market-oriented basis. Based in the Zhongguancun National Independent Innovation Demonstration Zone and leveraging the Group’s extensive government background and robust industrial resources, the Fund focuses on investing in frontier and disruptive technology projects both domestically and internationally, as well as high-tech projects with strong prospects for industrialization and significant economic and social benefits.

Phoenix Investment

Phoenix Investment is a professional equity investment firm established in 2015, focusing on the healthcare and cultural sectors. Its team comprises seasoned industry experts and investment banking professionals who create incremental value for portfolio companies by integrating top-tier industry resources. The firm’s first fund has been fully deployed, with two portfolio companies having filed prospectuses for domestic A-share listings and one company having submitted an application for listing on the Nasdaq.

Wanchuan Medical Healthcare Industry Group

Jiangsu Wanchuan Medical Health Industry Group, founded in 2002, is a large-scale comprehensive group integrating the research and development, manufacturing, sales, and pharmaceutical services of pharmaceuticals and medical devices. It also invests in the fields of medical big data and mobile health, and has established close strategic partnerships with numerous leading brand manufacturers, research institutions, and commercial platforms. We are committed to providing chronic disease patients with comprehensive high-quality products and health management services, aiming to improve their quality of life while reducing the overall healthcare burden on society, thereby making greater contributions to the field of chronic disease management services within China’s medical and health industry.

Taifu Capital

Taifu Capital was established in 2014, focusing on the fields of new drug development and novel medical technology research. It primarily invests in promising early-stage and growth-stage enterprises. The investment team possesses years of experience and industry resources in these sectors and is committed to helping portfolio companies grow into industry leaders.