The latest mega-round in the China biotech scene features some of the hottest VCs — and a pretty mysterious startup.
Curon Biopharmaceuticals has reaped $150 million in a Series A round that pulled in 6 Dimensions Capital, Boyu Capital and Temasek.
The Shanghai-based biotech was incubated by 6 Dimensions, which noted in a press release that it currently holds “multiple” cancer immunotherapy assets — to be advanced into preclinical and clinical phases using the new round of funding. The money will also go toward expanding the pipeline, though it’s unclear exactly how.
Leading all these activities will be Paul Song, a co-founder of the company who’s just been named CSO. Having cut his teeth as a researcher at Eli Lilly, Song climbed to a VP position at Samsung Bioepis before joining 6 Dimensions as a venture partner several months ago.
While the company hasn’t responded to a query about their business model or overseas presence, Song’s LinkedIn profile hinted they will be developing I/O drugs for a global market. 6 Dimensions — the marriage between Leon Chen’s Frontline BioVentures and Ge Li’s WuXi Healthcare Ventures — is known for pouring cash into high-profile biotech startups like Viela Bio and Brii Bio. Singapore’s state-owned fund Temasek is a regular presence in transpacific upstart stories and Boyu Capital, an influential private equity group led by Sean Tong, has been making its own splash.
“Curon Biopharma represents another key strategic move by 6 Dimensions Capital in the immuno-oncology space,” offered Chen in a statement.
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