Ascentage Pharma, an innovative small-molecule oncology pharma headquartered in Shanghai, closed a $15.5 million Round A financing led by Oriza Capital and YuanMing Capital. Ascentage has seven drug programs aimed at six drug targets, three of them clinical-stage. In 2009, Ascentage took over US-based Ascenta’s Shanghai pre-clinical labs and acquired China rights to Ascenta’s drugs. Since then, it has built an API plant in Taizhou Medical City with a $10 million China government grant.
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