China-based biotechnology firm Avistone Pharmaceuticals has raised around $200 million in its Series A funding round to create an integrated oncology platform, media reports said.
The funding round for Avistone Pharmaceuticals was led by Vivo Capitals. Other investors that also participated include Bain Capital and Primavera Capital.
The investment will support the combination of Avistone with Pearl Biotechnology to create a fully-integrated targeted oncology platform.
Dr. Hepeng Shi, Chairman, CEO, and Founder of Avistone told the media, “Avistone is a science-driven, innovative biotechnology company committed to the discovery and clinical development of first-in-class and best-in-class drugs.
“We are thrilled for our company, team, and product pipeline to be recognised by such well-established global life sciences investors as Vivo Capital, Bain Capital, and Primavera Capital. We look forward to leveraging their resources and capabilities to realize our vision to become a global oncology leader that provides more effective treatment options and improves quality of life for patients around the world.”
Avistone Pharmaceutical, which is based in Beijing develops precision oncology therapeutics with a strong focus on lung cancer treatments.
Shan Fu, Managing Partner and CEO of Greater China for Vivo Capital told the media, “The deal exemplifies Vivo’s investment capabilities in both innovation and private equity transactions in China, as well as extraordinary collaborations both internally, led by Drs. Hongbo Lu and David Liu, and externally, joined by Bain Capital and Primavera Capital.”