Zentalis raises $20m for China drug development venture

Tybourne Capital Management has led what is described as a Series A for Zentera Therapeutics, which is headquartered in Shanghai and will primarily focus on commercializing three cancer therapies discovered by Zentalis. OrbiMed Asia has also contributed to the round, which will see Zentalis remain the majority shareholder.

The three therapies Zentera will work on target breast cancer, solid and liquid tumors, and cancers that develop in blood-forming tissue like bone marrow. Two of these are already in phase one or two clinical trials. Zentalis is working on the breast cancer treatment in collaboration with Pfizer but retains full ownership of the intellectual property. Zentera will also identify future drug candidates.

"The launch of Zentera is a key milestone in our global clinical development strategy," said Anthony Sun, chairman and CEO of Zentalis and CEO of Zentera, in a statement. "As the second-largest pharmaceutical market in the world, establishing a joint venture in China is the first step toward advancing our product candidates on a global scale. Furthermore, we are building a management team in China of seasoned professionals who are passionate about improving cancer treatment."

Zentalis is focused on developing small molecule therapeutics targeting fundamental biological pathways of cancers. The company favors targets that have been proven clinically – and in some instances, commercially – which means its discovery and development can begin at a more advanced stage. Since its inception five years ago, Zentalis has received three investigational new drug approvals in the US, while a fourth was submitted in March and a fifth is expected in 2021.

Tybourne, a Hong Kong-based investment firm pursuing hedge fund and long-only strategies, primarily invests in consumer, financial services, industrials, and technology companies. Early to growth-stage investments in Asian start-ups include CarDekho and FreeCharge in India as well as Paidy in Japan. AVCJ Research has no records of previous investments in China biotech.

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• Topics
• Greater China
• Healthcare
• Early-stage
• China
• Pharmaceuticals
• OrbiMed