AsianScientist (Jan. 11, 2016) – ASLAN Pharmaceuticals (ASLAN), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumor types, announced on January 7, 2016 the final close of its Series C financing round. ASLAN raised an aggregate amount of US$43 million, including the US$34 million announced in December 2015.
ASLAN received additional investment from new institutional investor MVP Capital Partners, in addition to the new investors and existing investors previously announced.
ASLAN plans to use the proceeds to further accelerate clinical development of its pipeline of four novel therapeutic agents that have the potential to treat tumor types highly prevalent in Asia. Its most advanced program, ASLAN001, is currently undergoing Phase 2 trials in cholangiocarcinoma, gastric cancer and breast cancer. The new proceeds will also enable ASLAN to develop ASLAN003 in new oncology indications following the recently announced, expanded licensing agreement with Almirall.
Dr. Carl Firth, Chief Executive Officer of ASLAN, said: “The investment and support of our new strategic and international investors is a strong endorsement of ASLAN’s capabilities in developing novel clinical programs and will accelerate the development of new treatment options for patient groups where there are significant unmet medical needs.”
Source: ASLAN Pharmaceuticals.
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