ASLAN Pharmaceuticals Pte Ltd Raises U.S.$23 Million In Pre-IPO Financing Round

Published: Jul 05, 2016

Singapore, 4 July 2016 – ASLAN Pharmaceuticals (ASLAN), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, today announced that it has raised US$23 million in a pre-IPO financing round.

The new financing round has attracted support from both new and existing investors. New investors include leading Taiwan institutional funds, TopTaiwan, KGI VC and Ta Ya Ventures, as well as several international institutional funds, Milestone Capital, Daiwa Taiwan-Japan Biotech Fund and China Galaxy. Proceeds from the fund-raising will go toward clinical development of ASLAN’s pipeline of four novel therapeutic agents that have the potential to treat tumour types highly prevalent in Asia. The Company’s lead drug, varlitinib, is currently undergoing phase 2 trials in cholangiocarcinoma, gastric cancer and breast cancer.

In December 2015, ASLAN closed a US$43 million Series C financing round which was led by Accuron, a wholly-owned subsidiary of Temasek Holdings. The Company has raised over US$100 million to date.

Dr Carl Firth, Chief Executive Officer of ASLAN, said: “We are delighted to welcome on board new institutional investors from Taiwan as well as international investors. This is a strong endorsement of our team, clinical development programme and strategy.

“We are well-funded to accelerate the progress we are making in developing our portfolio of drugs, and this financing round bolsters our strong financial position as we advance ASLAN as a leading biotech company in Taiwan and the region.”

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