Anaphore, a US-based healthcare provider, has acquired a Chinese peer and closed on the $15m second tranche of its series A round.
Anaphore said it acquired RuiYi for an undisclosed amount to gain access to its biologics drug discovery platform targeting G protein coupled receptors (GPCRs).
The acquisition follows the hire in June of Paul Grayson as executive president.
At the time of the hire, Russell Greig, Anaphore’s executive chairman since leaving drugs company GlaxoSmithKline’s corporate venturing unit SR One, said: "The addition of Paul reflects Anaphore’s movement into its next phase of development.
"His deal-making experience and leadership qualities will bring a new dimension to the company as we increase our efforts to unlock the value of our technology platform."
Anaphore raised $38m split into two tranches from SR One, Merck Serono’s corporate venturing unit and peer Aravis and venture capital firms 5AM Ventures, Versant Ventures and Apposite Capital.