Local GPs commit $71m to China biotech player

TF Capital, Yingke Private Equity, Hanne Capital, and Everest Venture Capital joined the round, according to a statement, as did clinical trials specialist Tigermed. It follows a $32 million Series B in 2017 that included Sequoia Capital China, Taikang Investment, and H&Q Asia Pacific.

EOC is developing a range of anti-tumor products with a focus on breast and gastric cancer. Its most advanced product is a breast cancer drug undergoing phase-three trials in both China and the US. At least five other projects have entered clinical trials, including one targeting bone metastasis, which occurs when cancer from the breast, prostate or lung expands into the bone.

EOC was founded in 2015 through a spinout from Chinese drug developer Edding Pharm, which received investment from Sequoia in 2010. The company owns an 8,000 square meter manufacturing facility in China Medical City, an industrial zone of Taizhou, and has offices in Shanghai, Beijing, Hong Kong, and Los Angeles.

Earlier this year, it secured a product development partnership with Shionogi, a Japanese pharmaceuticals player established in 1878.

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• Topics
• Greater China
• Healthcare
• Technology
• Expansion
• China
• Pharmaceuticals