Kintor raises RMB288 million in C round financing to accelerate anti-cancer drug development
On January 11, 2018, Suzhou Kintor Pharmaceuticals, Inc. (Kintor) announced to complete C round financing and raised RMB288 million. This round was led by Green Pine Capital Partners (Green Pine), followed by Orient Securities Capital Investment Co. Ltd., Pegasus Capital, CCB International Healthcare Industry Private Equity Fund and Broad Resources, among others. The original investors HighLight Capital and Oriza Holdings also joined this round of financing. The money raised this time will be used to complete Clinical I-III trials of Proxalutamide for prostate cancer and breast cancer conducted simultaneously in China and the United States and promote clinical development of four anti-cancer innovative drugs under research.
Since its establishment, Kintor has developed a multi-channel product portfolio focusing on advanced cancer treatment in the fields of cancers with high incidence, namely prostate cancer, breast cancer and liver cancer. It has insisted on combining independent development and introduction and been dedicated to discovering the best therapies for cancer patients, and developing “best-in-class” and “first-in-class” innovative drug R&D and industrialization platforms. It has spared no efforts in building a leading enterprise of anti-cancer innovative drugs.
Mr. Luo Fei, founding partner of Green Pine Capital Partners, said, “Green Pine Capital Partners is very happy to lead the investment in Kintor. The company has mature new drug development platforms. Its main product Proxalutamide showed good performance in Phase I clinical trial and has entered Phase II clinical trial. The clinical trials are simultaneously conducted in both China and the United States. Proxalutamide is one of the few products included in the “Important New Drug Innovation Program” of the 12th Five-Year Plan and the 13th Five-Year Plan. Its team has more than 20 years of experiences in drug discovery, clinical trial design and management and startup in the United States. Expect Kintor’s innovative drugs to be available in the market as soon as possible to benefit patients and contribute to the important new drug innovation of China.”
HighLight Capital was the lead investor in B round financing of Kintor. Mr. Wang Hui, managing partner of the investment firm, said, “I am glad to see Kintor making solid progresses. In 2015 we established partnership with Kintor and we will continuously and firmly support the company in future. Growing together is the philosophy of HighLight Capital.”
“Kintor has been dedicated to completing layout of innovative drugs in the cancer treatment field, and providing more effective and safe therapies for advanced cancer patients in China and the rest of the world as well,” said Dr. Tong Youzhi, chairman and CEO of Kintor, “This round of financing will be an important milestone in Kintor’s development, and speed up Kintor’s paces towards a leading bio-tech enterprises with advanced technologies and products. We are particularly grateful to new and old investors for their recognition and support to Kintor’s team, new drug projects and clinical market development strategy.”