China-US based biotech company Ansun BioPharma raised $80 million in its series B funding round to support the phase three clinical trial for its newly-developed medication, the company said on Monday.
Oceanpine Capital led this round of fundraising. Existing investors including Lilly Asia Ventures, Matrix Partners China, Yuanming Capital and other new investors joined this round of investment. China Renaissance is the financial advisor of the deal.
Ansun develops biologic drugs targeting viral respiratory tract infection. It is in the process of developing a first-in-class medication, called DAS181, to cure lower respiratory infection caused by parainfluenza virus.
Proceeds in the...