Impact Therapeutics Announces $50 Million Series C+ Financing
Impact therapeutics recently announced the completion of $50 million in Series C+ financing. The Series C+ financing was led by Junshi Biosciences, with participation from new investors including AJ Asset Mgmt, Zhenji Capital, West Fountain Global Fund L.P., Ausun Pharma, and existing investors Lilly Asia Ventures and China Summit Capital.
“We highly appreciate the support from all of our investors. As a global leading pioneer in synthetic lethality area, Impact therapeutics is evolving rapidly based on its unique innovation strategy and broad product pipeline. Among global synthetic lethality key players, Impact therapeutics is the only biotech that owns PARP and other DDR programs concurrently. We position Impact as an innovative China-based biotech focused on targeted anti-cancer therapies with in-house drug discovery capability and global development execution. 2021 is expected to be a significant turn point for us, as we are starting a series of clinical trials in the US .” said Dr. Jun Bao, CEO of Impact Therapeutics.
Junshi CEO Dr. Ning Li said, “Impact therapeutics has a pipeline with great potential in synthetic lethality. More importantly, we have seen impressive progress which the company has demonstrated in recent years. We look forward to working together with Impact therapeutics to establish innovation ecosphere, bring more novel therapies and benefit the patients in China as well as all over the world.“
Impact Therapeutics is a privately held clinical-stage biopharmaceutical company and dedicates to the discovery and development of targeted anti-cancer therapeutics based on synthetic lethality. Impact has assembled the most comprehensive DNA damage response (DDR) global pipeline of novel drug candidates generated by in-house discovery efforts and is expanding to other novel synthetic lethality targets to broaden its pipeline. Impact has been funded by well-recognized venture capital firms including Lilly Asia Ventures.
About Junshi Biosciences
Founded in December 2012, Junshi Biosciences (HK: 1877; SH: 688180) is an innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapeutics. The company has established a diversified R & D pipeline comprising 26 innovative drug candidates and 2 biosimilars, with five therapeutic focus areas covering cancer, autoimmune, metabolic, neurologic, and infectious diseases. Junshi Biosciences was the first Chinese pharmaceutical company to obtain marketing approval for PD-1 monoclonal antibody in China and clinical trial application approval for PCSK9 monoclonal antibody from the NMPA. The world’s first-in-human, first-in-class BTLA blocking antibody for solid tumors is currently in phase I clinical trials in the US and China. In early 2020, Junshi Biosciences joined forces with Institute of Microbiology Chinese Academy of Science and Eli Lilly to co-develop JS016, China’s first neutralizing fully human monoclonal antibody against SARS-CoV-2, which has entered clinical trials and is now a part of our continuous innovation for disease control and prevention of the global pandemic. Junshi Biosciences have about 2,000 full time employees in the United States and China, including research and development centers in San Francisco, Maryland, Shanghai, Suzhou, Beijing and Guangzhou. For more information, please visit: http://junshipharma.com.