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China's KeChow Pharma gets $45m Series C

  • Larissa Ku
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Shanghai Kechow Pharma, a Chinese small molecule targeted drug developer, has raised a $45 million Series C round led by Decheng Capital.

 

Qiming Venture Partners, Sherpa Capital, and existing investor Grains Valley Venture Capital also participated.

Kechow has raised a total of $60 million since 2018. It plans to use the proceeds on its oncology-focused drug, HL-085, which is in its clinical-stage, develop the pharmaceutics pipeline, and apply for commercialization approvals in the US and China.

Co-founded in 2014 by Dr. Tian Hongqi, Lilly Asia Ventures, and Morningside Venture Capital, the company has developed 20 patents in and out of China.

“I am very encouraged by HK-085’s excellent clinical data. For Qiming Venture Partners, our investment in the field of life science has always focused on the science itself, speaking from the data. I believe that in the near future, Kechow will bring a promising new choice for cancer patients around the world.” Yanming Tang, partner of Qiming Venture Partners said in a statement.

According to IMS statistics, the development of anti-cancer drugs has shown a tendency towards targeted drugs. The number of small-molecule targeted drugs has increased from 231 to 297 from 2006 to 2016. The proportion of targeted drug development among all anti-cancer drugs has increased from 78% to 90% during the same period.

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