Danqing Innovative Healthcare LLP managed by Shiyu Capital participates in Ascentage Pharma’s Series B financing of RMB 500 million (equal to approximately $72 million) which completed in Dec.26th.
Ascentage Pharma is a global, clinical-stage biopharmaceutical company focusing on apoptosis-targeted oncology drug discovery and development. Ascentage has recently completed their product strategy layouts in the field of Cancer, HBV and age-related pathologies. The company’s pipeline includes 5 potential “first-in-class” and 3 potential “best-in-class” global innovative drugs, of which 6 innovative drugs have entered Phase I or Phase II clinical stages in China, USA and Australia.
Ascentage dedicates to develop products targeting new targets in apoptosis/autophagy regulation pathway such as Bcl-2, IAP, MDM2-p53, and also proven targets including ALK, Bcr-Abl. Ascentage recently announced that FDA has approved their selective Bcl-2/Bcl-xl inhibitor APG-1252’s IND in Dec.22nd, which means that APG-1252 is about to start clinical trials in the United States in the near future. This round of funding will be used to advance the clinical development of products in research and the construction of industrialization base.