ASLAN Plans $40 Million Taiwan IPO In May

Aslan Pharma, a Singapore company developing novel oncology therapies, told Bloomberg News that it expects to raise $40 million in a Taiwan IPO planned for May. The company will float about 10% of its shares, implying a $400 million valuation. So far, Aslan has raised over $100 in venture capital, a number that includes a $23 million funding last year in a pre-IPO round. In February, Aslan reported positive results from a Phase II trial of its lead drug, varlitinib, as a second-line therapy for patients with HER-positive breast cancer.