CPE joins Series D for China biotech player TransThera

Other investors include Sixty Degree Capital, China Merchants Capital, GP Healthcare Capital, CoStone Capital, and Jiangsu-based WinFast Holdings

The new funding will support the international development of pipeline projects, according to a statement. Founded in 2016, TransThera focuses on innovative small molecule drugs. These are characterized by their relative simplicity as chemical compounds, which allows for a wider range of administration options, including oral.

At present, the company has four self-developed treatments in clinical trials. TT-00420, TransThera's flagship product, is said to be in the late clinical stage. It targets unmet clinical needs for refractory and relapsed tumors.

"We will help the company continue to its research and develop more excellent small molecule innovative drugs, and become China's leader in this track," said Jing Wu, an executive director at CPE.

In February, Co-Stone led an extended Series C round of $50 million for TransThera. This followed an initial tranche led by SDIC Fund Management in 2020. AVCJ Research's records show the company raised $60 million across the Series B and initial Series C rounds. The Series B closed in 2018.

Other investment activity in China's small molecule drug space includes a $123 million Series D - led by The Carlyle Group - for Abbisko Therapeutics in January. The company, which focuses on cancer treatments, has since filed for a Hong Kong IPO.

China Renaissance was the exclusive financial advisor for TransThera's Series D.

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• Topics
• Greater China
• Expansion
• Healthcare
• China
• Pharmaceuticals
• China Structural Reform Fund
• GP Capital
• Citic Private Equity