Shanghai, and Taizhou, Jiangsu, China, December 27, 2017 – Asieris Pharmaceuticals Co. Ltd. (Asieris Pharmaceuticals, or Asieris) today announced it has closed a series B funding round. This round of funding is led by Lapam Capital, and joined by Kaitai Capital, Zhongguancun Qihang Industry Fund, and Phoenix Fund. BFC Group is the exclusive financial advisor for this funding round. The proceeds from the series B round will be used to fund APL-1202’s registration clinical trial currently under rapid recruitment at 40 Chinese clinical centers, the manufacturing of APL-1202, a Phase II trial to be initiated in 2018 in the United States, and other ongoing projects.
Asieris Pharmaceuticals was founded in 2010, and aspires to becoming a China-based biotech company with global impacts. Asieris has business and R&D operations in Shanghai, Beijing, and in China Medical City of Taizhou, Jiangsu Province. Asieris’ multi-disciplinary R&D team with deep technical expertise is led by several experienced “returnees”, with a focus on the discovery and development of innovative drugs to address significant unmet medical needs, such as cancer. The investors in the completed series A funding round were Varsal Healthcare Group and TF Capital.
APL-1202, Asieris’ leading drug candidate, has been supported by China’s 12th and 13th “National 5-Year important Innovations” funding programs. Developed from an invention in-licensed from the Johns Hopkins University, APL-1202 has a novel mechanism of action, and currently is the only oral drug in the world under Pivotal Trial for the treatment of non-muscle invasive bladder cancer. Positive efficacy and safety results from the completed Phase II Proof-of-Concept trial have been presented at the 2016 European Association of Urology (EAU) Congress, the 2017 Bladder Cancer Research Symposium organized by the Albert Institute and MD Anderson Cancer Center, and at the 2017 Annual Meeting of Chinese Society of Clinical oncology (CSCO). Asieris’ APL-1501 has been granted as one of the programs under China’s 13th “National 5-Year important Innovations: Development of drugs and critical technology platforms for the prevention and treatment of multi-drug resistance (MDR)”. In addition to its proprietary drugs, anti-cancer and anti-MDR platforms, Asieris is currently in active negotiation with multiple international pharmaceutical and biotech companies for partnerships in China and global markets.
“Our goal is to establish our technological and product leadership position in the therapeutic areas of our interest and offer improved therapeutics to patients worldwide,” said Dr. Kevin Pan, Chairman and CEO of Asieris Pharmaceuticals. “This round of funding signifies Asieris has entered a new development track and accelerated its pace toward reaching our goals. We thank our investors for their endorsement and support to Asieris’ new drug development strategies, programs, and technologies.”
“Asieris Pharmaceuticals’ new drug programs hold breakthrough potential in the global markets of bladder cancer and multi-drug resistance,” commented Mr. Zhihua Yu, Chairman of Lapam Capital. “We are confident that under the leadership of Dr. Pan, the Asieris team is capable of integrating the domestic and overseas advantages in technology, talent, capital, and market, and establishing Asieris as a leading pharmaceutical company in the therapeutic areas of anti-cancer and anti-MDR, especially in genitourinary cancers.”
About Lapam Capital
Lapam Capital is a Beijing-based RMB venture capital firm currently managing three funds with a total of more than 2 billion RMB. Lapam Capital focuses on Chinese biotech companies at various stages with advanced technologies and leadership in key market segments including small-molecular drugs, biologics and high-end medical devices. The numbers of marketed Class 1 small-molecular drugs from its portfolio companies is more than 50% of the total number of Class 1 small-molecular drugs from private pharmaceutical companies in China. Lapam Capital is dedicated to providing comprehensive value-added service to its portfolio innovative drug and medical device companies.
About Kaitai Capital
Kaitai Capital is a venture capital firm founded in 2009 and specializes in innovation and industry investment and asset management. The firm seeks to invest in healthcare, culture and entertainment, innovative consumption, financial service, life sciences, and artificial intelligence. Kaitai Capital is currently managing funds in excess of dozens of billions RMB.
Consisted of the earliest innovation investment fund managers in China, and having experienced multiple macro-economic cycles, industrial cycles and fund management cycles, Kaitai Capital’s management team has fostered a knowledge system, technical skills, methodologies and values for innovation investment. By adhering to our commitments to Value Discovery, Creation and Sharing, Kaitai Capital is generating a VC brand name in the areas of innovation investment, industry investment and asset management and serves for the development of China’s innovation economy and investment. Kaitai Capital chooses innovative medicines that can drive the transition from research discoveries to patient benefits as our focus in healthcare, which represents our dedication to helping the rapid development of China’s healthcare industry.
About Zhongguancun Qihang Fund
The Zhongguancun Development Group (ZDG) is a state-owned enterprise funded by the Beijing Municipal Government. It was incorporated in April 2010 to guide and boost the development of the Zhongguancun National Innovation Demonstration Park (NIDP) with more coordinated governmental supports and market-based mechanisms.
Established by ZDG, Zhongguanun Development Qihang Industry Fund (Qihang Fund) is an independent, market-oriented high-tech equity fund. based on NIDP’s advantages and the Group’s extensive governmental relationship and strong industrial resources, Qihang Fund is focused on investing in disruptive technologies and high-tech programs with great developmental potentials and significant economic and social benefits.
About Phoenix Fund
Phoenix Fund was founded in 2015 and specializes in the equity investment in healthcare and culture industry. Its team is consisted of senior industrial experts and investment bankers. By integrating up-stream resources in the industry, the fund creates incremental values for its portfolio companies. Phoenix’ first-phase fund has completed the investment. Two portfolio companies have summited prospectus to the Chines A-share market and one portfolio company has applied IPO with Nasdaq.
About Varsal Healthcare Group
Jiangsu Varsal Healthcare Group was founded in 2002, and is a conglomerate of pharmaceutical and medical device R&D, manufacturing, sales and regulatory services, and investments in medical big data and mobile health. Varsal partners closely with multiple large brand-named manufacturers, research institutes and commercial platforms. We strive to provide comprehensive quality products and health management services for patients with chronic diseases, reduce overall social healthcare burdens while improving patients’ quality of life, and make contributions in the areas of chronic disease management in China’s healthcare industry.
About TF Capital
TF Capital is a leading life sciences venture capital firm in China. The TF Capital team manages both RMB and USD funds. The firm employs a diversified strategy within life sciences in order to selectively capitalize on an expanding opportunity in biotech.
Company Contacts:
Ex-China: In China:
David Wilson, Ph.D. Dandan Xie
Senior VP of BD Senior BD Manager
T: (1) 650-400-8383 T: (86) 21-6858-5280 ext. 604
E: dwilson@asieris.com E: ddxie@asieris.cn
Company Addresses:
Shanghai Office：1000 Jinhai Road, City of Elite, Pudong, Shanghai, China
Corporate HQ：Suite 1009, Twin Towers, China Medical City, Taizhou Jiangsu, China
