With an As­traZeneca can­cer drug in one hand, $37M in the oth­er, Shang­hai's Al­pha Bio zooms in­to a PhII study

One of the more promi­nent Chi­nese ven­ture firms in biotech has put some cash be­hind yet an­oth­er Chi­nese start-up look­ing to de­vel­op a Big Phar­ma drug for the boom­ing Asian mar­ket.

In what has fast be­come a rou­tine event, Qim­ing Ven­ture Part­ners led a $37 mil­lion Se­ries A tranche for Shang­hai-based Al­pha Bio­phar­ma. Al­pha Bio has plans to launch a glob­al, mul­ti-cen­ter Phase II clin­i­cal study of AZD3759, a TKI for EGFR mu­ta­tion-pos­i­tive cas­es of non-small cell lung can­cer.

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