Ascletis Raises $100 Million for US-China Startup

Ascletis, Inc., a US-China biopharma startup, announced a huge $100 million Series A round, led by Hangzhou Binjiang Investment Holding Co. Initially, Ascletis will in-license promising clinical-stage western molecules for cancer and infectious diseases, which it will take to China for development and sale there. To lock down a financial commitment of this size, Ascletis probably has its eyes on some compelling projects, but the company isn’t talking about its prospects before a deal is signed. To get its business moving quickly – the company hopes to have a drug on the market in three to five years – Ascletis is focusing on projects that are already in clinical stage in the west. More details.... Share this with colleagues:   var switchTo5x=true; stLight.options({publisher:'d7871f5b-67bc-4d30-b66f-1465d0b97213'});