China-based oncology and inflammatory disease drug developer TransThera Biosciences has received over $50m in a series C-plus round featuring China Merchants Capital, part of conglomerate China Merchants Group, DealStreetAsia reported on Tuesday.
Private equity firm Co-Stone Asset Management led the round, with participation from Summit Capital, a joint fund affiliated with the government-owned State Development and Investment Corp’s SDIC Venture Capital and SDIC Fund Management units.
TransThera is developing small molecule therapeutics designed to address cancer, cardiovascular diseases and liver diseases. It raised $10m in a 2016 series A round led by 5Y Capital, the venture capital firm then known as Morningside Ventures.
Ennovation Ventures invested an undisclosed amount in TransThera in March 2020 before joining investors including GP Capital, SDIC Venture Capital, Summit Capital and Eastern Handson in a $60m series C round four months later.
The company’s other investors include PharmaBlock, a provider of chemicals for the pharmaceutical sector, and Grand Yangtze Capital.