Jiangsu Atom Bioscience raised $30 million in a Series B financing that will be used for discovery and development of novel drugs that treat metabolic diseases and cancer. The financing was led by Livzon Pharma and Sequoia Capital China with participation from Kaitai Capital and Fortune Capital. Founded in 2012 Atom’s novel APB-671 compound is in global Phase II trials for gout. Atom is also developing two candidates for NASH, gastric and colon cancers that are expected to start US or China clinical trials in late 2020.
Source: China Biotoday
