Ascletis Raises $100 Million for US-China Startup
publication date: Apr 6, 2011
Ascletis, Inc., a US-China biopharma startup, announced a huge $100 million Series A round, led by Hangzhou Binjiang Investment Holding Co. Initially, Ascletis will in-license promising clinical-stage western molecules for cancer and infectious diseases, which it will take to China for development and sale there. To lock down a financial commitment of this size, Ascletis probably has its eyes on some compelling projects, but the company isn’t talking about its prospects before a deal is signed. To get its business moving quickly – the company hopes to have a drug on the market in three to five years – Ascletis is focusing on projects that are already in clinical stage in the west. More details....
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