aTyr Pharma, A US-Hong Kong Biotech, Announces $46 Million Private Placement

aTyr Pharma, a San Diego-Hong Kong biotherapeutics company, announced a $45.8 million private placement. The company will use the capital to advance its portfolio, which aims to treat rare immune-mediated diseases and cancer. In several Phase Ib/II trials, the company's lead drug, Resolaris, showed efficacy. aTyr says the drug "resets" the immune system without making patients susceptible to disease. The company's majority owned subsidiary, Pangu BioPharma, operates a research laboratory at the Hong Kong University of Science and Technology.