Singapore’s Aslan Pharma lines up an $86M IPO to fund pivotal cancer drug studies
With its lead oncology drug in a pivotal study for biliary tract cancer and a slate of key catalysts coming up in other trials, Singapore-based Aslan Pharmaceuticals has filed for an IPO on Nasdaq, with plans to raise around $86 million. Helmed by Carl Firth — the former BD chief for AstraZeneca in Asia who owns 4.7% of the stock — Aslan is a small biotech with a global strategy to roll out its cancer drugs in China, the US and Europe. The lead is varlitinib, a pan-HER drug that is also in the clinic for gastric, breast and colorectal cancers. The company plans to trade under the $ASLN symbol, taking advantage of the current hot market for biotechs.