Asieris Pharma Closes Series C+ Funding Round

According to VCBeat, on June 28, 2020, Asieris Pharmaceuticals ("Asieris"), an innovative company focused on genito-urinary tumor treatments, announced the completion of the Series C+ round of financing, with participation from Tigermed, BioTrack Capital, Yingke PE, and Huayin Financial Investment, bringing the total financing of Series C to 390 million yuan.

Proceeds from the latest round will be used to promote Asieris' existing pipelines and prepare for the commercialization of new products.

APL-1202, one of the major products of Asieris, is the world's first kind of drugs of non-muscular invasive bladder cancer entering into clinical trials. As an oral drug with the innovative anti-tumor mechanism, the whole treatment using APL-1202 is convenient, painless and has no damage to the urethra, which will help patients avoid or delay the total bladder resection.

APL-1702 (Cevira^®) is a photodynamic drug-device combination product. It consists of a convenient, fully integrated drug delivery and the light device which is being developed for non-surgical treatment of high-grade cervical dysplasia. Asieris will also conduct the phase III trial of APL-1702 in 2020.

In addition, Asieris has several projects in the pre-clinical development stage, including APL-1501, the second generation product of APL-1202, with more clinical indications, such as prostate cancer and urinary tract infection. Asieris is also developing several pipelines in the early stage, including the antibiotic project with a new antibacterial mechanism, and the small-molecule drug of targeted protein degradation for tumors, etc.

Tigermed is a contract research organization providing whole process clinical trial services for the research and development of pharmaceutical products. Since its inception, the company is dedicated to the provision of medical research and development services that enables clients to reduce the risk and cost of R&D, while advancing the process of marketization.

Founded in 2017, BioTrack Capital is a dedicated healthcare venture capital firm focused on building and incubating innovative life science companies in China. The company focuses on innovative biotech companies, innovative MedTech companies, and innovative business models in healthcare which are led by outstanding entrepreneurs.