With deep ties to Chi­na, Vi­vace ex­its stealth mode with a lead can­cer pro­gram, plat­form and $40M

It’s not un­usu­al for in­vestors to qui­et­ly seed a stealth biotech long enough to see if they’re on to some­thing, then de­but the com­pa­ny with a Se­ries A. In Vi­vace Ther­a­peu­tics’ case, the West Coast biotech wait­ed for the Se­ries B, flesh­ing out a lead pro­gram and a plat­form tech­nol­o­gy to help it stand out in a crowd of star­tups.

In the process, back­ers have ex­pand­ed the syn­di­cate to in­clude a line­up of transpa­cif­ic in­vestors drawn to a com­pa­ny with roots in Chi­na as well as Cal­i­for­nia, spawn­ing a new kind of vir­tu­al com­pa­ny with a hand­ful of full­time staffers and some high-pro­file sci­en­tif­ic founders with their own cross-cul­tur­al back­grounds that fit this com­pa­ny per­fect­ly.

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