Singapore's Aslan Pharma raises $23m pre-IPO round
Singapore-based biotech company Aslan Pharmaceuticals has raised $23 million in a pre-IPO financing round that attracted participation from a range of new investors, including a number of Taiwanese groups.
According to a statement, new investors in the company include Taiwan institutional funds, TopTaiwan, KGI VC and Ta Ya Ventures. International institutional funds, including Milestone Capital, Daiwa Taiwan-Japan Biotech Fund and China Galaxy, also participated in the round.
Proceeds will go toward clinical development of Aslan's pipeline of four novel therapeutic agents that have the potential to treat tumor types highly prevalent in Asia. Details regarding the proposed IPO were not disclosed.
"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," said Carl Firth, CEO of Aslan.
Aslan conducts and supports regional clinical development programs through bases in Singapore, Taiwan, China and Australia. The company's lead drug, varlitinib, is currently undergoing trials for a number of cancers.
The investment follows a $43 million Series C financing round led by Accuron Technologies, a subsidiary of government-sponsored investment firm Temasek Holdings. The company has raised more than $100 million to date.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.