Ascentawits focuses on discovery and development of precision-targeted small‑molecule anticancer prodrugs, using tumor‑microenvironment‑guided prodrug design. Its lead candidate, AST-3424, is described as a first-in-class small molecule that selectively kills AKR1C3‑overexpressing tumor cells and permits companion‑diagnostic selection by IHC. The company has secured Asian patent rights or applications for AST-3424 and global patent protection for subsequent pipeline candidates. It reported completion of a 亿元 (CNY‑hundreds‑of‑millions) Pre‑B financing at the end of 2020 and plans to use proceeds to advance two Phase II trials of AST-3424 in China. Proceeds will also support clinical trial applications for two other novel compounds, multiple preclinical registration studies, and expansion of the company’s R&D center and team. Management said COVID‑19 affected clinical work in the prior year but the company nevertheless made expected progress and the financing will support further pipeline and organizational growth. Ascentawits Pharmaceuticals focuses on developing precision-targeted small-molecule prodrug anti-cancer compounds, led by its lead candidate AST-3424. AST-3424 is described as a globally novel small-molecule prodrug that selectively kills AKR1C3-overexpressing tumor cells with limited effects on normal cells and can be paired with an IHC companion diagnostic to select patients. The company holds Asian patent rights or applications for AST-3424 and has built a pipeline of globally IP-protected targeted prodrug compounds. In late 2019 the company completed a ¥100M A+ financing round to support its programs. Proceeds will be used to advance AST-3424 through China Phase I/II clinical trials, accelerate registration-directed preclinical studies for multiple innovative candidates, and expand the team. Company leadership states clinical development and financing are progressing smoothly as it pushes toward broader clinical and pipeline development.

Total raised

$30M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2021