Suzhou-based bio-pharmaceutical company TOT Biopharm has raised US$102 million series B round led by Chinese local asset management 99Fund, according to the company’s announcement.
Existing investors including Centerlab Group, Vivo Capital, Chengwei Capital, Yuanda Financial Holdings, and Gold Tech Venture Capital, as well as a number of well-known investment institutions in China and abroad also participated in this round.
Founded in 2010, TOT Biopharm develops, manufactures, and markets anti-tumor drugs. It specializes in therapeutic biological products, anti-tumor drugs, and specialty drugs. The company provides S-1, an oral, fixed dose combination, and immediate release capsule that contains tegafur (FT), a fluoropyrimidine prodrug of 5-fluorouracil (5-FU), and two modulators of 5-FU metabolism, gimeracil, CDHP, and oteracil potassium (Oxo).
“We are very honored that the performance and development potential of TOT Biopharm in the field of anti-tumor has not only been recognized by many well-known investment institutions at home and abroad, but also won the support of our existing shareholders’,” said Huang Chunying, general manager of TOT Biopharm.
“This round of financing will accelerate the development of our key pipelines. TOT Biopharm will seize the rapid growing opportunity of China’s anti-tumor drug market. In the future, we will also use the existing advantages of our own industrial chain platform to expand multi-directional and multi-level international cooperation,” she added.
Previously, TOT Biopharm raised a US$6 million series A round from Chengwei Capital in 2010.