IMPACT Therapeutics is pleased to announce the closing of a round of VC financing.
In Dec. 2015 IMPACT Therapeutics, a company dedicated to discovery, development and commercialization of novel and “best-in-class” therapeutics to treat cancer and other life-threatening disease, announced the completion of around $10 million series B financing, which will be used to advance clinical studies and development of pipeline products.The funding was provided by China Summit Capital, Guangzhou YUEXIU Industrial Investment Fund, Sungent Bioventure, HAIBANG Ventures and Lilly Asia Ventures. In July 2014, IMPACT raised series A financing from Lilly Asia Ventures, Cenova Capital and Wuxi AppTec Ventures.
“We are gratified by the support from this round of premiere venture firms and are in a strong position to advance clinical studies of multiple programs. We are looking forward to working with our investors in years to come, as we aim to improve the treatment outcome for cancer patients and other life- threatening diseases with vast un-met medical needs.”Said said Dr. Edward Tian, CEO of IMPACT. “The financing further validates tremendous progress of our assets and novel drug discovery approaches. We are excited to generate a strong pipeline of novel and potential “best-in-class” therapeutics using our robust scientific platform,”Commented by Dr. Sui Xiong Cai, SVP and CTO of IMPACT.”
About IMPACT Therapeutics
Funded by venture capital and based in China, IMPACT Therapeutics, Inc. (IMPACT) is dedicated to the discovery, development and commercialization of novel and “best-in-class” therapeutics to treat cancer and other life-threatening diseases. IMPACT has a highly experienced management team. Dr. Ye Edward Tian, the CEO and CSO, came from Pfizer and Transtech Pharma in USA with more than 20 years of pharmaceutical R&D experience. Dr. Tian played critical roles in several drug discovery projects that have advanced to clinical trials. Dr. Sui x XXiong Cai, the SVP and CTO, joined the company from San Diego, CA with more than 20 years of drug discovery experience. Served as Senior Director of Chemistry at EpiCept, Maxim Pharmaceuticals and Cytovia Inc. IMPACT has successfully established an effective research and business model, using unique method for the discovery and development of novel anti-cancer drugs. IMPACT has several anti-tumor drug projects in the preclinical and clinical stage. IMPACT has submitted a class 1.1 drug IND Application in Dec of 2015. For more information, please visit the company's web site www.impacttherapeutics.com.
About China Summit Capital
China Summit Capital is a China market-oriented private equity management company. The team is fully experienced in domestic and international equity investment and capital operation. We are managing several Chinese Yuan and US dollar funds, and have offices separated in Shanghai, Hong Kong, Wuhan, Tsingtao and other cities. China Summit Capital is seeking China and international outstanding business management teams, and provide them various financing solutions to promote them competitive industrial leaders.
About Guangzhou YUEXIU Industrial Investment Fund
Guangzhou YUEXIU Industrial Investment Fund Management Co., Ltd. (Hereafter referred to as “YUEXIU Industrial Fund”) was established in August 2011. As a subsidiary of Guangzhou YUEXIU Group, YUEXIU Industrial Fund is an asset management agency focusing on the strategic emerging industrial investment and fixed-income business. Based on these two main investment directions, YUEXIU Industrial Fund continues to attempt innovative business. With the ability to constantly seize investment opportunities in emerging industries, discovering and enhancing corporate value and satisfying the needs of high net worth individuals on asset management, YUEXIU Industrial Fund has established an investment platform geared toward private equity investment and financial investment mainly focusing on fixed-income products. Up to 2015, the total fund scale managed by the company has exceeded RMB 20 billion, though it is less than 5 years since its foundation. The company has become a new navigator in South China in the areas of real estate investment fund and private equity investment fund, and has contributed extensively to local economic development and emerging industries.
About Sungent Bioventure
Sungent Bioventure is a venture capital firm based in Suzhou, China, which invests in early/growth stage start-ups in life-science and healthcare industries. It was founded by Sungent Holding Group and Suzhou bioBAY, one of the best life-science industrial parks in China. Since its inception, Sungent Bioventure has invested in over 20 start-ups focused on developing innovative drugs, medical devices, IVDs, and biotechnologies.
About HAIBANG Ventures
Haibang Talent Fund established in 2011 and headquartered in Hangzhou is dedicated to investment in healthcare and medical science in China. It is the first fund in China to focus on recruiting talents globally to help China’s economic growth with the idea that "early successful overseas returnees help newer returnees to establish their startup companies in China”. Haibang Talent Fund is devoted to leverage the rich resources from industrial companies and universities in Zhejiang province to help funded companies to develop.
About Lilly Asia Ventures
Founded in 2008 and headquartered in Shanghai, Lilly Asia Ventures has invested in over 30 companies globally, with strong focus on China. LAV’’s portfolio covers all major sectors of the biomedical and healthcare industry including biopharmaceuticals, medical devices, diagnostics and healthcare services.