On May 20, 2021 Tyligand Bioscience, which is committed to the research and development of new small molecule anti-tumor drugs, reported the completion of the A round of financing of about US$20 million jointly participated by Hongli Venture Capital, Yijing Capital, and China Medical System (Press release, Tyligand Bioscience, MAY 20, 2021, View Source [SID1234644993]). This round of financing will be used to promote the transformation of the company’s pipeline to the clinical stage, including the phase II clinical trials of onapristone in China, the preclinical research and IND declaration of 3 innovative molecules, and several First-in-class research projects compound optimization. BFC Capital acted as the exclusive financial advisor to Tyrex in this transaction.
Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:
Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing
Schedule Your 30 min Free Demo!
Dr. Zhang Yantao, chairman of Tyligand Bioscience, said: I am very grateful to new and old investors for their recognition and support of Tyligand’s original creativity. We should live up to high expectations, strive to efficiently promote the progress of the pipeline, develop high-quality first-class new drugs that can stand the test of time, and provide patients and medical staff with more accessible and reliable treatment options.
Dr. Xu Tianhong, managing partner of Holly Ventures, said: Holly Ventures is committed to discovering and investing in original innovations in the field of biomedicine at home and abroad, as well as first-class entrepreneurial teams of scientists with a solid style and deep foundation. Tyligand’s unique First-in-class and Best-in-class R&D pipeline is the best proof of its team’s creativity and execution ability in drug molecule design. We look forward to working closely with the company in the field of life sciences to provide safe and effective treatment options for cancer patients.
Yijing Capital said: Tyligand team has become one of the most innovative companies in the field of small molecules with its global vision in risk management and control, decision-making power in target selection, and efficient capital utilization. Yijing Capital is very optimistic about the company’s R&D platform built around the selective regulation of molecular phosphorylation levels, and is also very honored to support the advancement of Tyrena’s pipeline and the realization of clinical value. It looks forward to the smooth progress of the company’s products under research and the early benefit of patients around the world.
Lin Gang, Chairman of CMS, said: Tyligand has a strong team, and its research pipeline is unique and highly competitive, and it has also attracted first-class collaborators. It is a great pleasure to join hands with investment partners to jointly support original innovations that the market desperately needs.