Another cancer-focused pharma sets stage for IPO?
Cancer and rare disease drug developer CANbridge Pharma completed its Series D financing, raising a total of $98 million. The latest funding round, led by private equity firm General Atlantic and Shanghai-based CRO/CMO WuXi AppTec, also gives both companies the option of investing an additional $10 million if certain conditions are met by CANbridge. Since 2015, the Beijing-based pharma has raised over $200 million from its investors.
According to CFO Glenn Hassan, the new injection of funds will allow CANbridge to go public within the next two year, Endpoint News reported.
Two of its in-licensed drugs are currently being reviewed by regulators in China. Nerlynx, Puma Biotech’s early-stage HER2-positive breast cancer therapy, was filed in 2018. The other is GC Pharma’s Hunter syndrome therapy Hunterase, a rare disease drug currently under NMPA’s priority review.
According to CFO Glenn Hassan, the new injection of funds will allow CANbridge to go public within the next two year, Endpoint News reported.
Two of its in-licensed drugs are currently being reviewed by regulators in China. Nerlynx, Puma Biotech’s early-stage HER2-positive breast cancer therapy, was filed in 2018. The other is GC Pharma’s Hunter syndrome therapy Hunterase, a rare disease drug currently under NMPA’s priority review.
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