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Ascletis completes $50mm first tranche of Series A financing; adds $35mm; closes round at $105mm
17 Jan 2017
Executive Summary
Specialty pharmaceutical start-up Ascletis Inc. has raised $50mm in the first tranche of its Series A financing. Hangzhou Binjiang Investment Holding (a firm established by billionaire real estate mogul Jinxing Qi, who is also a co-founder) led and was joined by private Chinese and US entrepreneurs. The initial tranche is expected to carry the business into 2015. The company received a total commitment of $100mm for the round, with the second tranche of $50mm delivered when it gears up to manufacture and market its first product.
Deal Industry
- Biotechnology
- Pharmaceuticals
-
Pharmaceuticals
- Specialty Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Venture Financing
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Ascletis completes $50mm first tranche of Series A financing; adds $35mm; closes round at $105mm
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