Ansun BioPharma, a China-US based clinical stage biopharmaceutical company, has raised US$80 million in a series B round of financing led by Chinese investment management firm Oceanpine Capital, according to a statement released on Monday.
Chinese government-backed Greater Bay Area Homeland Development Fund, Hong Kong-based private equity firm Junson Capital, Korea Investment Partners (KIP) and existing investors Lilly Asia Ventures, Matrix Partners China, Yuanming Capital, 3E Bioventures Capital and Lyfe Capital also participated in this round.
Ansun BioPharma is a clinical stage biopharmaceutical firm focused on the development of novel broad spectrum anti-viral biologic therapeutics to combat severe viral respiratory tract infections. The company is in the process of developing a first-in-class medication, called DAS181, for the treatment of parainluenza virus (PIV) infection in hospitalized and immunocompromised patients.
Its DAS181 has received Fast Track designation by the U.S. FDA for this indication. The company recently has also observed activity of DAS181 against other important respiratory pathogens based on the same host-directed anti-viral mechanism.
"Ansun Biopharma provides the world’s first biopharmaceutical DAS181 with a new and unique antiviral mechanism for the clinically huge and unmet need of parainviral respiratory infections. DAS181 has the potential to be the best-in-class drug in the same huge market for influenza virus infections," said Chen Liguang, founder, CEO and managing partner of Oceanpine Capital.
Proceeds of this round will be used to support the Phase 3 clinical trial of its experimental anti-viral medication
The company raised an US$85 million series A financing round led by Sinopharm Healthcare Fund and Lilly Asia Ventures in May 2018, with participation from Lyfe Capital, Yuanming Capital, Matrix Partners China, 3E Bioventures Capital, Oceanpine Capital, VI Ventures and Joincap Investment.