Singapore-based biotechnology company Aslan Pharmaceuticals closed a series C round featuring technology and engineering company Accuron and pharmaceutical company Tianda Pharmaceuticals at $43m on Thursday.
Accuron and Tianda joined Haitong International, Morningside Ventures, Bioveda Capital, Cenova Ventures and Sagamore Bioventures for the round’s $34m first close last month, before private equity firm MVP Capital Partners added the additional capital.
Aslan is developing oncology immunotherapies and targeted drugs that are focused on the types of tumours prevalent in Asia.
The funding will support clinical development of four Aslan drug candidates, the most advanced of which is in phase 2 trials for cholangiocarcinoma, gastric cancer and breast cancer.
Additional cash will go to developing another candidate, originally envisaged as a treatment for rheumatoid arthritis, in new oncology indications
Carl Firth, Aslan’s CEO, said: “The investment and support of our new strategic and international investors is a strong endorsement of Aslan’s world-class capabilities in developing novel clinical programmes and will accelerate the development of new treatment options for patient groups where there are significant unmet medical needs.”
Bioveda and Sagamore joined undisclosed angel investors to fund Aslan’s $12m series A round in 2011 before returning for a $22m series B two years later, which also included Morningside and XinChen Ventures.