Aslan Pharmaceuticals raises $23m in pre-IPO financing round

Published: 4-Jul-2016

The funds will be used for the clinical development of four novel therapeutic agents to treats cancers prevalent in Asia

Aslan Pharmaceuticals, a biotech company focused on the development of immunotherapies and targeted agents for tumour types prevalent in Asia, has raised $23m in a pre-IPO financing round.

The firm has attracted support from new and existing investors. New investors include leading Taiwan institutional funds, TopTaiwan, KGI VC and Ta Ya Ventures, as well as several international institutional funds, Milestone Capital, Daiwa Taiwan-Japan Biotech Fund and China Galaxy.

The funds will be used for the clinical development of Aslan’s pipeline of four novel therapeutic agents that have the potential to treat tumour types highly prevalent in Asia. The company’s leading drug, varlitinib, is currently undergoing Phase II trials in cholangiocarcinoma, gastric cancer and breast cancer.

Last December, Aslan closed a $43m Series C financing round which was led by Accuron, a subsidiary of Temasek Holdings.

To date, the company has raised more than $100m.

Dr Carl Firth, Chief Executive of Aslan, said: 'We are well-funded to accelerate the progress we are making in developing our portfolio of drugs, and this financing round bolsters our strong financial position as we advance Aslan as a leading biotech company in Taiwan and the region.'

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