China-based speciality drug developer Nuance Pharma received $181m in series D financing on Tuesday from investors including pharmaceutical company Konruns Pharma.
State-backed private equity GT Fund and biopharma-focused investment firm RTW Investments co-led the round, which was also backed by healthcare investment firm CBC Group, venture capital firm Matrix Partners China and investment firm HBM Healthcare Investments.
Founded in 2014, Nuance is working on therapeutics for respiratory diseases as well as disorders such as iron-deficiency anaemia and the management of post-operative pain.
The company’s drug candidates include a small molecule candidate called CXD1010 that is being co-developed with oncology therapy developer Celleron to treat tumours, and which has been given the regulatory go-ahead in Hong Kong to begin clinical trials.
Nuance’s founder and chief executive, Mark Lotter, said: “This is an important milestone for Nuance, which reinforces our deep industry expertise and strategic business model.
“We are well-positioned to advance the clinical development of our robust therapeutics pipeline, and we look forward to bringing in more assets to China and building a leading presence in these key therapeutic areas.”
The proceeds from the round will support ongoing research and development for Nuance’s existing pipeline and, potentially, new assets as well.
Matrix Partners China provided $8m in series A funding for the company in 2017 before CBC Group (then known as C-Bridge Capital) led its $20m series B round in June 2018. It has not revealed details of a series C round.
