Singapore's Aslan Pharma closes $43m Series C round

The round was led by Accuron Technologies, a subsidiary of government-sponsored investment firm Temasek Holdings, and $34 million of the capital was raised last year. Other participants include Haitong International and China-based Tianda Pharmaceuticals. Existing investors Morningside Venture Capital, Bioveda Capital, Cenova Ventures and Sagamore Bioventures took part as well.

The company's Series B round in October 2013, led by Cenova, brought in $22 million, while the Series A, completed in 2011 and led by BV Healthcare, was worth $12 million.

Aslan will use the new funding to accelerate clinical development of four cancer drugs currently under development. The most advanced of these is undergoing Phase 2 trials. The drug has been awarded orphan drug designation by the US Food and Drug Administration, entitling it to various development initiatives including tax credits for clinical testing and exemption from certain fees.

Another drug recently announced an expanded licensing agreement with Almirall, a global pharmaceutical company based in Barcelona.

"The investment and support of our new strategic and international investors is a strong endorsement of Aslan's world-class capabilities in developing novel clinical programs and will accelerate the development of new treatment options for patient groups where there are significant unmet medical needs," Carl Firth, the company's CEO, said in a statement.

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• Topics
• Expansion
• Healthcare
• Southeast Asia
• healthcare
• Southeast Asia
• Singapore
• Venture
• Temasek Holdings
• Morningside Technologies