Demand drives interest in oncology drug makers

While venture capital funds chase a shrinking number of deals in China, the pharmaceutical sector remains a bright light.

Apollomics, a Sino-US oncology drug company, has raised $100 million in Series B funding from a group of Chinese investors.

CBM International led this round, joined by Guangzhou Yue Min Investment Asset Management, South China Venture Capital, Junson Capital, Pan-Lin Asset Management and K2VC. China Renaissance is the financial consultant for this deal.   

Apollomics is the fifth pharmaceutical company in China to raise money since the start of the year. Others include $120 million for Antengene, $44 million for Tobiopharm, $55 million for Suzhou Connect Biopharmaceuticals, and $80 million for BrightGene.

 

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