Bei­jing on­col­o­gy biotech Avi­s­tone rais­es $140M Se­ries B for com­mer­cial­iza­tion in Chi­na, ex­pan­sion in­to US

Bei­jing-based Avi­s­tone Biotech­nol­o­gy has raised 1 bil­lion yuan, about $140 mil­lion, to bankroll com­mer­cial­iza­tion of its re­cent­ly ap­proved lung can­cer drug in Chi­na and run tri­als of oth­er as­sets.

SDIC CS Cap­i­tal and IDG Cap­i­tal co-led the Se­ries B, dis­closed Thurs­day morn­ing, which al­so in­clud­ed fund­ing from Yanchuang Cap­i­tal and Cathay Cap­i­tal. Al­so in­volved is backer Bain Cap­i­tal, which con­tributed to the biotech’s $200 mil­lion Se­ries A, an­nounced in De­cem­ber 2021 af­ter Avi­s­tone had been work­ing for more than half a dozen years un­der two dif­fer­ent en­ti­ties, as End­points News pre­vi­ous­ly re­port­ed.

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