Avistone Biotechnology Announces Closing Of Series B Financing

Jan 04, 2024•almost 2 years ago

Round Type

series b

BeijingBiotechnology Research

Investors

Bain CapitalCathay CapitalYanchuang CapitalIdg CapitalSdic Cs Capital

Description

Beijing Avistone Biotechnology Co., Ltd. (also referred to as Avistone Biotechnology or Avistone), an innovative biotechnology company focused on precision oncology therapeutics, announced that they had recently completed their Series B financing of 1 billion Chinese yuan (~$140 million USD). The Series B financing was jointly led by SDIC CS Capital and IDG Capital, with participation from Yanchuang Capital and Cathay Capital. Existing shareholder Bain Capital continues to make additional investments.

Company Information

Company

Avistone Biotechnology Co., Inc

Location

Beijing, Beijing, China

About

Avistone is an oncology company focused on developing innovative therapies for patients with significant unmet medical needs globally. Avistone has an extensive pipeline of targeted therapies including two clinical-stage drug candidates and several ongoing programs in the pre-clinical development stage. The Company’s lead asset is PLB1001, a small-molecule inhibitor that targets MET tyrosine kinase activity, including aberrant activity observed with METexon14 skipping (genetic) alterations in NSCLC tumors and in other solid tumors. The company's second clinical asset is PLB1004, a potent inhibitor of EGFR tyrosine kinases (TKI), including aberrant activity observed with EGFR exon20 insertion (genetic) mutations in NSCLC tumors.

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