Singapore-based biotech company ASLAN Pharmaceuticals has raised $43 million in Series C funding. The investors included new backer MVP Capital Partners.
Singapore, January 7, 2016 – ASLAN Pharmaceuticals (ASLAN), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, today announced the final close of its Series C financing round. ASLAN raised an aggregate amount of US$43 million, including the US$34 million announced in December 2015.
ASLAN received additional investment from new institutional investor MVP Capital Partners, in addition to the new investors and existing investors previously announced.
ASLAN plans to use the proceeds to further accelerate clinical development of its pipeline of four novel therapeutic agents that have the potential to treat tumour types highly prevalent in Asia. Its most advanced programme, ASLAN001, is currently undergoing phase 2 trials in cholangiocarcinoma, gastric cancer, and breast cancer. The new proceeds will also enable ASLAN to develop ASLAN003 in new oncology indications following the recently announced expanded licensing agreement with Almirall.
Dr Carl Firth, Chief Executive Officer of ASLAN, said: “We are delighted by the strong interest we have received in this oversubscribed fundraising round. The investment and support of our new strategic and international investors is a strong endorsement of ASLAN’s world-class capabilities in developing novel clinical programmes and will accelerate the development of new treatment options for patient groups where there are significant unmet medical needs.”
About ASLAN Pharmaceuticals
ASLAN Pharmaceuticals is an oncology focused biotechnology company developing a portfolio of immunotherapies and targeted drugs, focusing on Asia prevalent tumour types. Led by a highly experienced management team with global pharmaceutical expertise, ASLAN is headquartered in Singapore with a platform which reaches across the region via its offices in Taiwan, China and Australia, enabling the Company to conduct and support regional clinical development programmes. The Company’s proprietary pipeline of 4 development-stage candidates addresses multiple indications including gastric and breast cancers and inflammatory diseases. ASLAN’s most advanced compounds are in phase 2: ASLAN001, a pan-HER inhibitor with phase 2 data in gastric cancer, being developed in cholangiocarcinoma, breast cancer and gastric cancer; and ASLAN002, which targets RON, an immune checkpoint inhibitor, and cMET. www.aslanpharma.com