US-based immunotherapy developer Ansun Biopharma closed an $80m series B round yesterday that included Lilly Asia Ventures, a corporate venturing representative of pharmaceutical firm Eli Lilly.
Investment manager Oceanpine Capital led the round, which was also backed by Yuanming Capital, Korea Investment Partners, Matrix Partners China, Lyfe Capital and, according to China Money Network, Junson Capital and 3E Bioventures.
Founded in 2003 with a focus on influenza, Ansun has since branched out into the development of treatments for a range of respiratory infections and viruses. Its lead drug candidate, DAS181, is intended to combat parainfluenza in patients with immune system deficiencies.
The series B proceeds have been earmarked for a phase 3 clinical trial for DAS181 as well as the advancement of additional candidates in the company’s pipeline.
The company pulled in $85m in a May 2018 series A round co-led by Lilly Asia Ventures and Sinopharm Healthcare Fund, a corporate venture capital subsidiary of pharmaceutical company Sinopharm.
Oceanpine Capital, Lyfe Capital, Yuanming Capital, Matrix Partners China and 3E Bioventures also contributed to the series A round, along with VI Ventures and Joincap Investment. It followed $28m in earlier debt and equity financing.
