Atom Bioscience Raises $30M in Series B Funding Round

According to lieyunwang.com, Jiangsu Atom Bioscience & Pharmaceutical Co. Ltd. ("Atom Bioscience") , a pharmaceutical company, has raised US$30 million in its Series B financing, jointly led by Livzon Pharmaceutical and Sequoia Capital China, with participation from Kaitai Capital and Fortune Capital.

Proceeds from the latest round will be used to conduct phase 2 clinical and follow-up clinical trials of ABP-671 for gout treatment in the US and Asia, as well as preclinical and early clinical studies of drugs for non-alcoholic steatohepatitis (NASH).

So far, Atom Bioscience has completed four rounds of financing, with a total amount of nearly 300 million yuan. The company raised Series A financing in early 2017 from Kaitai Capital. In May 2018, it closed Series A+ round, with participation from Youchoose Capital.

Atom Bioscience was founded in 2012. It mainly focuses on the new drug discovery and development on the treatment of metabolic disease and cancers. The executive team is primarily from the US and has extensive experience in the pharmaceutical industry. 

Atom Bioscience develops several pipelines. Among them, a novel compound ABP-671 for gout treatment has completed the phase 1 clinical trials in the US, while phase 2 trials are underway. ABP-671 is going to be a potent drug for the treatment of gout and other hyperuricemia related diseases worldwide. 

Atom Bioscience also dedicates to the development of novel drugs to treat NASH, gastric and colon cancers, etc. The novel compounds ABP-6016 and ABP-431 are currently under pre-clinical development for NASH and gastric cancer, respectively. Both will enter clinical trials in the US or China in Q4 of 2020. 

Livzon Pharmaceutical is dedicated to the improvement of human life and health. The company provides domestic first-class, world-leading specialty drugs, aiming to strategically advance toward the business development of precision medicines and related endeavors.

Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fintech sector.

Formed in September 2005, Sequoia Capital China has an impressive and diverse portfolio comprising about 300 dynamic companies that deliver high returns on investment using differentiated technologies and innovative business models, including Alibaba, VIPshop.com, Sina.com, Didi, JD.com, Ourpalm, Qihoo 360, Jumei, Momo, and so on.