Shanghai-based endocrine therapy developer VISEN Pharmaceuticals has raised an aggregate of $150 million in its Series B round to facilitate its development in the Greater China region.
Sequoia Capital China has led the said round with the participation of a slew of new investors including OrbiMed, HBM Healthcare Investments, Logos Capital and Cormorant Asset Management, Sherpa Healthcare Partners, Pivotal bioVenture Partners China, and CDG Capital.
Existing backers Ascendis Pharma, Sofinnova Investments and Vivo Capital also re-upped in the round. The three investors jointly set up VISEN in 2018.
Since its inception, the firm claims to be developing the unmet medical needs for patients who suffer from endocrine diseases in the Greater China region like mainland China, Hong Kong, Macau and Taiwan.
“Series B funding will help to accelerate our clinical development, manufacturing, and commercialization of our three leading products, and establish a strong foundation on which we will enrich our pipeline from diversified international partnerships,” said VISEN Pharmaceuticals CEO and board member Pony Lu in a statement.
Late last year, Sequoia Capital China made headlines when it partnered with LYFE Capital, Xiamen C&D Emerging Industry Equity Investment, and others, collectively investing 600 million yuan ($92 million) in US customized biology research reagents and services provider ABclonal Technology.
South Africa Today
Read more at VolaNews
