Ascentage Pharma (亚盛医药) is a pharmaceutical company. On June 20, 2024 the company completed an equity investment transaction with Takeda Pharmaceutical. The transaction funds have been received and the deal was formally closed. Under the agreement Ascentage allotted 24,307,322 subscription shares to Takeda at HKD24.09850 per share (approximately USD3.08549 per share). The investment amount reported in the article is USD75 million. The article does not provide operating metrics, past rounds, or specific use of proceeds. Ascentage Pharma is a global clinical-stage biopharmaceutical company focused on designing small-molecule therapies that inhibit protein-protein interactions to restore apoptosis. Its pipeline comprises seven clinical candidates, including APG-1252, a highly potent Bcl-2/Bcl-xL inhibitor, plus programs aimed at IAP and MDM2-p53 pathways and next-generation tyrosine kinase inhibitors. The company’s technology is based on work from the University of Michigan and it is led by Dr. Dajun Yang, Chairman and CEO. Ascentage completed an approximately $150M Series C that brought total funding to around $240M. The company intends to use the proceeds to support its broad apoptosis-targeted pipeline and to build out R&D centers and manufacturing facilities. Ascentage positions itself as a globally-focused developer advancing multiple clinical-stage candidates for cancer and other diseases. Ascentage Pharma discovers and develops small-molecule targeted therapeutics for cancers, hepatitis B and age-related diseases using proprietary protein–protein interaction drug discovery technologies. The company holds over 80 international patents and currently has six small-molecule drugs in Phase I–II trials in the US, Australia and China, with additional programs in preclinical stages. Its R&D pipeline includes inhibitors of IAP, Bcl-2/Bcl-xL and MDM2–p53, second- and third-generation kinase inhibitors to overcome mutant resistance, and inhibitors of epigenetics. On December 22, 2016 Ascentage obtained FDA IND approval for APG-1252, a novel Bcl-2/Bcl-xL inhibitor. The company intends to use new capital to further accelerate its pipeline of apoptosis-targeted small molecules. Ascentage is led by co-founder, chairman and CEO Dajun Yang, MD, Ph.D. Ascentage Pharma focuses on discovery and development of targeted small-molecule cancer therapies, with programs spanning preclinical to mid-stage clinical trials. Its pipeline includes a pan Bcl-2 inhibitor in Phase II trials in China and the US and a small-molecule IAP antagonist in Phase I trials in China and Australia. The company has one drug submitted for IND approval, two additional drugs slated for IND filing in 2015, and several preclinical discovery programs targeting key oncogenic drivers. Ascentage has raised financing to support clinical development, CMC upgrades and manufacturing expansion. The company previously received a US$3M strategic investment from 3SBio to advance its programs and infrastructure. Operations are oriented toward advancing multiple candidate drugs through IND and clinical milestones.

Total raised

$313M

Funding rounds

4

Latest round

Equity

Latest activity

Jun 2024