ASLAN Pharma Raises US$23 Million In Pre-IPO Financing Round

The financing round has attracted support from both new and existing investors, including from Taiwan.

AsianScientist (Jul. 12, 2016) – ASLAN Pharmaceuticals, a Singapore-based biotech company focused on the development of immunotherapies and targeted agents for Asia-prevalent tumor types, has raised US$23 million in a pre-IPO financing round.

New investors include leading Taiwan institutional funds, TopTaiwan, KGI VC and Ta Ya Ventures, as well as several international institutional funds, Milestone Capital, Daiwa Taiwan-Japan Biotech Fund and China Galaxy.

Proceeds from the fund-raising will go toward clinical development of ASLAN’s pipeline of four novel therapeutic agents that have the potential to treat tumor types highly prevalent in Asia. Its lead drug, varlitinib, is currently undergoing Phase II trials in cholangiocarcinoma, gastric cancer and breast cancer.

In January, ASLAN closed a US$43 million Series C financing round led by Accuron Technologies, a precision engineering and technology group headquartered in Singapore.

The Company has raised over US$100 million to date.


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Source: ASLAN Pharmaceuticals.
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