Biopharmaceutical firm IMPACT Therapeutics has secured 250 million yuan ($34.5 million) in a Series D++ funding round.
The proceeds will help finance the commercialisation of the core product Senaparib, which has demonstrated best-in-class potential in a clinical pivotal phase III study, the firm said. The funding will also help accelerate the firm’s global clinical development of multiple compounds, according to a company release on November 15.
The firm said the round was co-invested by a corporate venture capital and an insurance fund, without disclosing the investor details.
With offices in Shanghai and Nanjing, the firm is engaged in the discovery and development of targeted anti-cancer therapeutics based on synthetic lethality.
Previously, it completed its Series D1 funding round in March 2022, which saw the participation of Dingxin Capital, CCB Trust, C&D, Bestride, Exome Asset Management, Lilly Venture Asia, China Summit Capital, and Yuexiu Industrial Fund.
IMPACT’s fundraising comes at a time when pharmaceutical and biotech firms in the Greater China region raised an aggregate of $1.5 billion through 54 deals in Q3 this year, according to DealStreetAsia’s proprietary data.
The proceeds went up 69.3% compared to the same period last year when only $883 million was raised through the completion of 67 transactions.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from November 11– 17, 2024.
