On October 1, 2019, Ansun Biopharma, a company dedicated to developing first-in-class new biologics targeting urgent and unmet clinical demands in respiratory infections, announced the consummation of its Series B financing with total amount of USD 80 million. The financing is lead by Oceanpine Capital. Moreover, Greater Bay Area Development Fund Management, Junson Capital, Korean Investment Partners as well as existing shareholders Yuanming Capital, Lilly Asia Ventures, Matrix China, 3E Bioventures, Lyfe Capital participated. China Renaissance served as the sole financial advisor to the transaction.
Ansun Biopharma is a clinical stage biotech company. Its leading asset, DAS181, is a first-in-class recombinant enzyme protein that cleaves sialic acid receptor, which is bound by most of the major types of viruses that infect respiratory tract, on the surface of the epithelium of human respiratory tract. As a host-directed target therapy, DAS181 is expected to treat various respiratory viral infections with the same infection mechanism. U.S. FDA has granted Fast Track and Breakthrough Designation to DAS181 for the treatment of immunocompromised Parainfluenza (PIV) infection. The proceeds from Series B financing will be used in the phase III global multicenter clinical trial of PIV as well as the expansion of other indications.
Dr. Nancy Chang, the Chairman and CEO of Ansun Biopharma said: “We are glad that Ansun has obtained supports and recognition from its existing and new investors. This series of financing will continue to support the rapid progress in the development of the company’s pipelines. ”
Dave Chenn, the founder, CEO, and Managing Partner of Oceanpine Capital, commented that: “Ansun provides the global, first-in-class biologics DAS181 with its unique mechanism of action to treat PIV infection, a huge and unmet clinical need. DAS181 also has the potential to become the best-in-class therapy for influenza infection which also possesses tremendous market potential. Dr. Nancy Chang, as a successful investor and serial entrepreneur, led an elite team that has obtained Fast Track and Breakthrough designation for DAS 181 and is marching toward the success of phase III clinical trial. Oceanpine Capital, as a professional institution investing in globally leading new drug companies, will, as always, connect our industry resources with Ansun and support its continued innovation to help the company become a global, top-tier business in new drug research and development.”
Rachel Yu, the Managing Director of China Renaissance, stated that: “We are honored that we are able to assist the company to consummate this series of financing. Ansun has a streamlined, efficient, and experienced management team. We believe that the success of the financing will facilitate the rapid clinical development of DAS181 and fulfill the early market entry of the product.”
Source: Oceanpine Capital
