China Growth Capital Leads $20M Series A+ Round In ABM Therapeutics

China Growth Capital has led a US$20 million series A+ round in ABM Therapeutics, a Chinese clinical-stage biopharmaceutical company developing a new generation of BRAF inhibitor.

Sinopharm Capital, Panlin Capital, Ming Bioventures and existing investors Kaitai Capital, LongDAC also participated.

Proceeds will be used to accelerate the clinical development of ABM-1310 and multiple existing preclinical projects, further enrich its product pipeline, and create sustainable value in the small molecule research and development of novel drugs for the treatment of cancer.

Started in 2015, ABM Therapeutics is an innovative drug discovery company focusing on small molecule targeted therapy for the treatment of cancer, with an emphasis on blood–brain barrier (BBB) penetration and brain metastasis. ABM has been building its broad and robust proprietary pipeline to construct a brain medicine R&D platform through collaborations with CROs. ABM’s pipeline includes several programs in various stages of discovery and development, most of which have improved brain permeability to address the unmet need of treating cancer and metastases in the brain.

Two months ago, ABM Therapeutics announced that its first cancer patient was successfully enrolled and dosed with ABM-1310 in the Phase 1 clinical trial in the USA. ABM-1310, the company’s lead candidate, demonstrated superior properties in pre-clinical animal models, is a highly selective, highly water-soluble, orally active, and brain-penetrant small molecule BRAF inhibitor.

Since its establishment, ABM Therapeutics has been favored by many well-known investors. In June 2017, the Shanghai-based company raised an undisclosed angel round; in January 2019, the company completed a series A round of financing led by Kaitai Capital with participation from WisdoMont Asset Management and Viva Biotech.

Caishen.Co - Primary Data for China Secondary Investment and Stock Markets
Caishen.Co - Primary Data for China Secondary Investment and Stock Markets
Introducing Finley, the fintech newsbot from China Money Network! Using state-of-the-art machine learning technologies, Finley scours the globe for immediately usable data about the latest private equity deals, venture capital funding rounds, and business expansions happening in China. Finley asks: Who's buying whom? What company just raised new capital? What is the relationship among the parties? Then Finley uses his very real artificial intelligence to decipher that unstructured data to write news articles for you to read. So from unstructured data to a news story you can understand, China Money Network's Finley is your fintech newsbot business partner!