ASLAN Pharmaceuticals Secures US$22m In Series B Financing

ASLAN Pharmaceuticals has raised US$22 million after hosting a second round of financing with Cenova Ventures.

AsianScientist (Oct. 14, 2013) – ASLAN Pharmaceuticals, a biotech company based in Singapore, has announced the completion of a Series B financing raising US$22 million. The financing was led by Cenova Ventures and included new investors like Morningside Group and XinChen Ventures. Existing investors BioVeda Capital and Sagamore Bioventures also participated in the round.

Proceeds from the Series B will fund ongoing clinical development of ASLAN’s portfolio, including the Phase IIb program for ASLAN001, a small-molecule pan-HER inhibitor developed for gastric cancer which showed positive data in a Phase II study completed earlier this year. The financing will also support the licensing of additional compounds in 2013 and 2014.

“We are proud to have assembled such a strong group of investors from China, Taiwan and the US that can support the development of our portfolio through efficient and high quality clinical centers in the region,” said Dr. Carl Firth, CEO of ASLAN. “This round will allow us to complete at least five further studies and deliver robust proof of concept data on several of our programs.”

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Source: ASLAN Pharmaceuticals.
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