ALEC - Week In Review: Abbisko Raises $70 Million To Develop Cancer Drug Candidates
Deals and Financings
Abbisko Therapeutics, a Shanghai novel drug biopharma, raised $70 million in a Series C financing led by Singapore's Temasek. The company has four clinical programs underway, and it intends to expand its discovery pipeline, which consists of small molecule targeted oncology and immuno-oncology candidates. In the last year, Abbisko has started clinical trials of two internally discovered candidates after IND approvals in the US, China and Taiwan. It has also in-licensed two clinical-stage assets, one from X4 Pharma and the other from AstraZeneca (AZN).
Apexigen, a Bay Area clinical-stage biopharma, closed a