US-based respiratory therapy developer Ansun Biopharma closed an $85m series A round yesterday co-led by Sinopharm Healthcare Fund and Lilly Asia Ventures, respective subsidiaries of pharmaceutical firms Sinopharm and Eli Lilly.
The corporates invested together with Lyfe Capital, Yuanming Capital, Matrix Partners China, 3E Bioventures Capital, Oceanpine Capital, VI Ventures and Joincap Investment.
Founded in 2002 as NexBio, Ansun Biopharma is working on anti-viral treatments for respiratory conditions. The funding will support an upcoming phase 3 clinical trial for DAS181, a treatment aimed at hospitalised, immunocompromised patients suffering from parainfluenza.
Parainfluenza is a group of four viruses that cause different symptoms, but which all affect the lower or lower respiratory area. Otherwise healthy patients can often recover without treatment, but those with a weakened immune system are vulnerable to a life-threatening infection.
DAS181 has already secured breakthrough and fast track designations from US regulator Food and Drug Administration, which will allow for expedited development.
The asset has also shown potential in the treatment of other viral infections, such as H1N1, which caused a pandemic in 2009 when a strain known as swine flu surfaced.
Sinopharm chairman Xiaoming Yang and Yi Shi, managing director at Lilly Asia Ventures, will join Ansun’s board of directors, along with two other new members: Donald Payne and Michael Chao.
Ansun Biopharma had previously raised approximately $28m in debt and equity financing, according to securities filings.