-- Fundraising will accelerate the development of ASLAN’s broad portfolio of immuno-oncology targeted agents
Singapore, December 7, 2015 – ASLAN Pharmaceuticals (ASLAN), a biotech company focused on the development of immunotherapies and targeted agents for Asia prevalent tumour types, has secured US$34 million in a Series C financing. The financing was led by Accuron Technologies Limited, a wholly-owned subsidiary of Temasek Holdings. Accuron is a global technology and engineering group with a leading global medical device and diagnostics business division – Accuron MedTech. Other new investors included Tianda Pharmaceuticals Limited and Haitong International. Existing investors Morningside, Bioveda, Cenova and Sagamore Bioventures also participated in the round.
ASLAN plans to use the proceeds to further accelerate clinical development of its pipeline of four novel therapeutic agents that have the potential to treat tumour types highly prevalent in Asia. Its most advanced program, ASLAN001, is currently undergoing phase 2 trials in cholangiocarcinoma, gastric cancer, and breast cancer, and was recently awarded Orphan Drug Designation in cholangiocarcinoma by the US Food and Drug Association.
Commenting on the financing round, Dr Carl Firth, Chief Executive Officer of ASLAN, said: “We are delighted to receive such a strong level of support and confidence from our new and existing investors, including several notable strategic investors. It is a strong endorsement of the quality of our clinical programs and team. This round will allow us to complete a further 10 clinical studies and potentially pivotal studies for ASLAN001. We are pleased to have the support of our investors in achieving our goal of developing novel and meaningful treatments for patient populations where there are high unmet needs.”
Abel Ang, Group Chief Executive Officer of Accuron MedTech, said: “We are excited to invest in and support ASLAN Pharmaceuticals, whose clinical programmes are showing great potential to treat diseases highly prevalent in Asia. ASLAN is exemplary of a Singapore-based biomedical company demonstrating world-class clinical capabilities. ASLAN has assembled one of the leading clinical teams in the region and has established a strong reputation for its innovative approach to accelerated drug development. We look forward to strengthening our strategic partnership as we support the Company in executing its innovative development strategy and achieving commercial success in the region and beyond.”
