Beijing-based CANbridge Pharmaceuticals Inc, which is engaged in the target therapy areas of rare diseases and cancers, has completed its $43-million Series E round funding led by Hong Kong based 3W Fund Management.
The fresh round saw the participation of new investors Casdin Capital, Summer Capital, SPDBI, and Yaly Capital. Existing investors Hudson Bay Capital Management, RA Capital Management, Hangzhou Tigermed Consulting Co. Ltd and LYFE Capital also backed the round, the company said in a statement.
CANbridge had already garnered an aggregate of $98 million in its Series D round earlier in February jointly led by global PE firm General Atlantic and Chinese innovative drug maker WuXi AppTec.
The company will use the proceeds for pipeline innovation, clinical trial development and drug product commercialisation.
The firm’s early-stage investors include Qiming Venture Partners, healthcare focused TF Capital, contract research organization Tigermed, among others.
CHINA DEAL MONITOR
DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region from November 30-December 2, 2020.
