Monday, 13 July 2020

Chinese biotech startup receives $80 M in Series B funding

15 October 2019 | News

Huaxing Capital acts as exclusive financial advisor

Ansun Biopharma , which is committed to developing first-in-class innovative biopharmaceuticals for the most urgent and unmet clinical needs in the field of respiratory infections, announced the completion of a $80 million Series B round of financing. This round of financing was led by Haisong Capital, Dawan District Common Home Development Fund, Jiachen Capital, KIP and existing shareholders Yuanming Capital, Lilly Asia Fund, Jingwei China, Materia Medica Capital, and Jifeng Capital. Huaxing Capital acted as the exclusive financial advisor for this financing.

Ansun Biopharma is a clinical stage biopharmaceutical company whose leading product in clinical development stage, DAS181, is a first-in-class recombinant sialidase protein that effectively removes sialic acid located on the surface of human airway epithelial cells, thereby preventing the virus from entering the host. Cells that block viral infections. As a host targeted therapy, DAS181 is expected to treat a variety of respiratory viruses that use the same infection mechanism. The US FDA has granted DAS181 Fast Track Eligibility and Breakthrough Therapy for the treatment of lower respiratory tract infections caused by parainfluenza virus (PIV) in immunodeficient patients.

The proceeds from this round will be used primarily for the ongoing PIV Global Multicenter Phase III clinical trial and the expansion of other indications.

Dr. Tang Nanshan, Chairman and CEO of Ansun Biopharma , said: "We are very pleased to receive support and recognition from Ansun and new investors, and this financing will continue to support the rapid advancement of the company's pipeline products."
Chen Liguang, founder, CEO and managing partner of Haisong Capital, said: “Ansun has provided the world's first biopharmaceutical DAS181 with a new and unique antiviral mechanism for the clinically huge and unmet need of parainviral respiratory infections. And has the potential to be the best-in-class drug in the same huge influenza virus infection market. As a successful investor and continuous entrepreneur, Dr. Tang Nanshan led an elite team to effectively promote DAS181 to achieve FDA fast track qualification and breakthrough therapy certification, and continue Successfully progressing to the Phase III clinical trial. As a specialized investment institution investing in global bio-innovative drug companies and an existing shareholder of Ansun, Haisong Capital will continue to connect our industry resources with Ansun to support the company's continuous innovation and become a global innovation. A benchmark in the biopharmaceutical sector."
Yu Rui, Managing Director of Huaxing Capital, said: “We are honored to assist the company in completing this round of financing. Ansun has a streamlined, efficient and experienced management team, and believes that the success of this round of financing will help the company to quickly promote the leading product DAS181. Clinical development to achieve early product launch."

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