Series E brings $18mm to 3-V Biosciences; 3-V becomes Sagimet, raises another $7mm

3-V Biosciences Inc. (developing drugs for cancer and nonalcoholic steatohepatitis (NASH)) raised $18mm through its Series E round. New investor and partner Ascletis Pharma led and was joined by Qianhai Ark (Cayman) Investment, New Enterprise Associates, and Kleiner Perkins. Purchasers committed to fund an additional $7mm through a later round. The funding was announced concurrent with 3-V granting Ascletis exclusive rights to develop, manufacture, and sell its fatty acid synthase inhibitor TVB2640 (ASC40) in Greater China for NASH. Series E proceeds will support upcoming Phase II trials in the US and China of TVB2640.