Tot Biopharm, a China-based oncology therapy developer, closed a $102m series B round today that featured biopharmaceutical company Center Laboratories Group.
The round also included financial services provider Yuanta Financial Holdings, healthcare investment firm Vivo Capital, venture capital firm Chengwei Capital, private equity firm Cathay Capital and a vehicle called China Universal (Cayman) GP.
Founded in 2010, Tot Biopharm is creating antibody-drug conjugates, a type of cancer treatment that targets and kills only tumour cells while leaving healthy tissue intact, and has more than 10 product candidates in its pipeline.
The funding will support the development and commercialisation of Tot’s drug pipeline, and the company is seeking partners for collaboration agreements.
Tot’s lead drug candidate, Tab008, is currently undergoing a phase 3 trial and has shown promise in emulating the efficiency of an existing cancer drug sold under the trade name Avastin.
The company attracted $24m in a 2016 funding round led by Vivo Capital, with participation from Center Laboratories, pharmaceutical ingredient producer Formosa Laboratories and Chengwei Capital. Pharmaceutical firm TTY Biopharm sold all its shares as part of the round.
Chengwei provided $6m in series A capital for Tot in 2010, according to China Money Network. It is unclear when TTY Biopharm or Center Laboratories Group, an existing investor in the 2016 round, first backed the company.