Chinese biotech firm AusperBio, backed by the likes of Qiming Venture Partners, has raised $73 million in fresh capital to expand its pipeline and operations.
The Series B round was led by healthcare-focused investment firm HanKang Capital.
The round was also joined by CDH Investments, InnoPinnacle Fund, Qiming Venture Partners, Sherpa Capital, YuanBio Venture Capital, and another undisclosed strategic investor, according to a company announcement.
Founded in 2019, AusperBio is a clinical-stage biopharma firm focused on chronic hepatitis B virus treatment. The firm said it plans to use the capital to fund the Phase 2 development of its investigational therapy trials in China and globally, as well as commercial-scale manufacturing processes.
With offices in Hangzhou and San Mateo, California, AusperBio secured $37 million in a Series A round in July. The round was led by existing investor InnoPinnacle Fund, a USD-denominated investment fund set up by Hong Kong-listed Innovent Biologics.
AusperBio’s fundraising comes at a time when the biotech and medical devices sectors have remained some of the most invested in sectors throughout the first three quarters of 2024, according to DealStreetAsia’s proprietary data.
“This milestone financing recognizes our scientific and clinical accomplishments to date and enables us to accelerate our clinical programs and move closer to delivering a functional cure for CHB patients in need,” said AusperBio co-founder and CEO Guofeng Cheng.
Other recent deals in China’s healthcare space include the International Finance Corporation’s (IFC) likely move to extend a $200 million seven-year loan to biotech company 3SBio in December, as well as radiopharma firm C Ray Therapeutics, which raised over $100 million in a Series A+ round in November.
