Chinese Biopharma Firm CANbridge Life Sciences Raises $25M In Series B Round

Chinese biopharmaceutical company CANbridge Life Sciences has raised US$25 million in a series B round from lead investor Lapam Capital, a Beijing-based life science venture capital firm.

Existing investor Qiming Venture Partners and new investors, Yuanming Capital, Yanyuan Capital, Biossom Investment Management and Wuxi App Tec, also participated in the round, the company announced today.

Founded in 2012, Beijing-based CANbridge is a clinical-stage biopharmaceutical company focused on developing Western drug candidates in China and North Asia.

"These funds will bolster CANbridge’s financial position and strategy to build a pipeline of leading candidates in solid-tumor oncology in China," said James Xue, PhD, CANbridge's chairman and CEO. "It enables us to advance our clinical trial program in our two lead candidates, CAN008 and ...

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