Abbisko Therapeutics of Shanghai completed a $42 million series B fundraising led by new investor Qiming, which it will use to start clinical trials of its oncology molecules and expand its discovery pipeline. Later this year, the company expects to start Phase I trials of its two lead candidates, a small molecule FGFR4 inhibitor for hepatocellular carcinoma (HCC) and a CSF1R inhibitor for solid tumors. Abbisko focused initially on developing therapies against validated targets for China-prevalent indications. Eventually, it will develop small molecules against novel targets.
Source: China Biotoday
