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    Ascentage Pharma FinishesRound B Financing with 500 Million Yuan! Chinese Bio-Medical Financing Sees New Rise!


    On December 26, Jiangsu Ascentage Pharma announced the success of finishing the Round B financing with 500 million yuan, which once again added on red letter for financing of Chinese bio-medical companies in 2016.
     
    This time of financing is led by a Future Industry Investment Fund (FIIF), a private equity (PE) fund managed by SDIC Fund Management Corp. Ltd. (simply SDIC), and together finished by some new investors Shiyu Capital, Qianlong Capital, Founder-KIP Investment etc. and some A-round investors as Oriza, Yuanming Capital, EFUNG Capiatl, etc. And China Renaissance held the position of the exclusive and financial adviser for the financing.
     
    Ascentage Pharma is a China-based, global-oriented, known international R&D enterprises of original and novel drugs. It has successfully finished the product strategic layout in three fields as tumor, HBV, and diseases related to ageing. The company's pipeline consists of five first-in-class and three best-in-class international original novel drugs. Ascentage Pharma has six drugs in phase I-II trials in China, US and Australia.
     
    The roles and targets of Ascentage Pharma's related products include: new targets for cell apoptosis and autophagic dual channel regulation as Bcl-2/Bcl-XL, IAP and MDM2-p53; mature targets for clinical verification as ALKBcr-Ab1 and c-Met. On December 22, Ascentage Pharma announced that the U.S. Food and Drug Administration (FDA) granted Investigational New Drug (IND) approval to APG-1252, a new Bcl-2/Bcl-XL inhibitor. This means that it will be in clinical trial in America soon. This round of financing of Ascentage Pharma will be used to support its acceleration on the clinical development of products' pipeline and the construction of industrialized bases.
     
    Lv Dazhong, general manager of the board of SDIC Fund Management Corp. Ltd. said, "SDIC, as administrative organization special for private equity, actively seeks equity investment projects and major project for industrial layout that are fit for industry's development trend, seeking key technologies, and may realize the industrialization. Whereby, healthcare, especially the field of innovative drugs is the most important for our investment. Ascentage Pharma has made major breakthroughs one by one in field of new targets for cell death process (apoptosis) and autophagic dual channel regulation, which is the key point and bright point for our company's investment of this time. We believe that, under the leadership of the core management team led by Yang Dajun, Wang Shaomeng and Guoming, three specialists of the "Thousand Talents Program", Ascentage Pharma will become the leading company with innovative drugs from China in the field, which will bring breakthrough products for three major fields as tumor, HBV and diseases related with ageing."
     
    The core team of Ascentage Pharma is one of the earliest developers for the R&D of the new targeted small molecule inhibitor for cell death process (apoptosis) and autophagic dual channel regulation, whose development of corresponding drug is in the leading position in this field. For a long time, due to the high uncertainty of drug prospect and extreme difficulty of R&D for apoptosis target small molecule inhibitor, many enterprises deter or give up halfway. After thirty-year R&D, the first kind of drug in this field finally came into market in April, 2016, which was Bc1-2 target small molecule inhibitor Venetoclax developed together by Abbvie and Genentech. This drug has continuously achieved as many as three breakthrough therapy approved by FDA, which once again proves that Ascentage Pharma features unique eyesight and constant courage in apoptosis field.
     
    Dr Yang Dajun, the co-founder, chairman of the board and CEO of Ascentage Pharma, said, "We are very glad to see that China has strongly issued more and more policies to support the development of innovative drugs, and more glad to see the special investment institutions led by SDIC which focus on investment and actively make layout in Chinese original new drugs field. This round of financing successfully attract attentions of numerous investors. And we feel very honored and welcome new investors at the same time.
     
    After finishing this round of financing, the company will accelerate the development of domestic and abroad clinic of original new drugs, and rapidly start the establishment of industrialized bases, actively make preparation for listing in America, and realize the vision that establishes Ascentage Pharma as first-class international bio-medical enterprise. We expect that Ascentage Pharma can accelerate development together with all investors, and R&D and produce more efficient, safer Chinese original new drugs, then bring good news for patients in China and global."
     
    In early 2016, Ascentage Pharma developed new therapeutic drugs related with ageing together with UNITY Biotechnology, an American giant enterprise in anti-aging field. This cooperation further promoted the therapeutic potency except for the investigation new drug in tumor field of Ascentage Pharma. Meanwhile, Dr Yang Dajun said, "For a long time, we believe, only originality and keeping leading can provide clinical treatment value with differentiation for patients, can explore one space for China in global new drugs, and can bring higher financial rewards for company and investors."
     
    Caojian, general manager of Shiyu Capital believes, "Shiyu Capital possesses deep medical background, which will provide multiple complementary resources in aspects of products' development, industry's understanding, marketing channels, etc. and provide solid backing for enterprise."
     
    Xie Yijing, managing director of China Renaissance, Head of Healthcare and Life Sciences Team, said, "It's honorable for China Renaissance to help Ascentage Pharma and its science team finish this round of financing. We believe, Ascentage Pharma, as a typical representative for the startup of next-generation scientists in Chinese and global bio-medical industry, which will must become the global leader for the apoptosis field and new rising anti-ageing therapeutic researches."
     
    About Ascentage Pharma
     
    Ascentage Pharma is a China-based, global-oriented, clinical-stage biopharmaceutical company, which is dedicated to discovery and development of the international new targeted small-molecule anti-tumor drugs, and design, optimize and develop the original targeted small-molecule anti-tumor drugs with global independent intellectual property rights that can be used to cure tumor, HBV and diseases related to aging. Besides, it will make up the blank of the technological researches and market products, and move forward the international high-end pharmaceutical market. Ascentage Pharma has formed numerous core technologies based on drug design of targeted protein structure and optimal field, and possesses about 80 international invention patents. Until now, six products of Ascentage Pharma have been in phase I-II in America, Australia, and China.
     
    The R&D pipeline of Ascentage Pharma mainly focuses on the inhibitor for key protein in apoptosis, which restarts the apoptosis of tumor cells by inhibiting IAPBcl-2/Bcl-xL and MDM2-p53; the second generation and third generation aim to the inhibitor of RGD-Sak appearing during the process of tumor therapy; inhibitor of epigenetics target closely related to tumor therapy. Ascentage Pharma's overall competence and level in the R&D of original new drugs are in leading position.   
     
    About SDIC Fund Management Corp. Ltd.
     
    SDIC Fund Management Corp. Ltd. was founded in July, 2009, which is an independent administrative organization special for private equity according to marketing requirement. The funds directly or indirectly managed by SDIC are over 50 billion. And its managing capitals cover state-owned capitals, private capitals, social security capitals and insurance capitals. It is one of the administrative organizations special for private equity.
     
    About Shiyu Capital
     
    Danqing Innovative Healthcare (hereafter referred to as a Danqing Fund) is a long-term value investor, which insists on "one chuang, two zhuans" (including innovation, profession and focus). Targeting at life cycle as precision medicine, biological drugs, and innovative healthcare services, etc. Currently, it also invests companies in industrial chain of innovative drugs, biological drugs and drugs, and specialized hospitals, etc. LPs are mainly well-known entrepreneurs in healthcare sector and the anchor investor, Mr. Zhu Jiman, is the founder and chairman of Gloria Pharma (SZSE: 002437). Thus, Danqing aims to become the most outstanding investment fund in Chinese biological drugs and precision medicine fields.
     
    About China Renaissance
     
    China Renaissance is a leading independent investment bank serving the financing needs of China's most promising "new economy" entrepreneurs, those creating business models powered by the Internet and information technology. The firm's services include private fund-raisings, public offerings, mergers and acquisitions, sales and trading execution and equity research across a broad range of sectors, with a particular specialization in TMT (science, media, communication), education and healthcare as well as consumer products.

    Source: PHARMCUBE




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