Akeso, Inc. Completed Series-D Private Financing for close to US$150 Million

ZHONGSHAN, China, Nov. 9, 2019 /PRNewswire/ -- Akeso,Inc. (hereinafter referred to as "Akeso"), a Chinese biopharmaceutical company focusing on new innovative antibody drug discovery and development in oncology and immunology therapeutic areas, announced the completion of its Series-D private financing for nearly US$150 million on November 1, 2019. The investment was led by Loyal Valley Capital ("LVC") and Sino Biopharmaceutical Co. Ltd. ("Sino Biopharm"), and co-invested by leading international healthcare specialists including Lake Bleu Capital, AIHC Capital, OrbiMed, along with other famed investors including Shenzhen Capital Group Co., Ltd ("SCGC"), CDG International Company limited, and etc.The proceeds will fuel the clinical trials of new drug programs and the development of the Company's R&D of innovative drugs pipelines. The funding will also help Akeso to continue to expand its global footprint including new clinical trials in USA, as well as to expand our manufacturing capabilities."We are very pleased to have received great recognitions from top investment institutions in biopharmaceutical industry. This round of financing has successfully drawn continuous supports from industry-renowned long-term investment funds, famous strategic investors, top-tier healthcare specialist funds widely recognised in the capital market, influential family office fund from Hong Kong and a multitude of existing shareholders," said Dr. Xia Yu, CEO, President and founder of Akeso,With a vision of providing high quality and affordable antibody drugs for patients worldwide, Akeso is a clinical-stage biopharmaceutical company in China committed to in-house discovery and development of innovative mono- and bi-specific antibody drugs. Since its establishment in 2012 in China, Akeso has developed a broad product portfolio consisting of over 30 programs in oncology and immunology therapeutic areas. Many of these potential drug candidates are first-in-class globally including PD1/CTLA4, and PD1/VEGF. Akeso's strong and comprehensive R&D capability is well recognized in the industry and endorsed by out-licensing AK107, an in-house discovered CTLA-4 monoclonal antibody drug candidate, to Merck in November 2015, and signing exclusive partnership agreement with Sino Biopharmaceutical Co. Ltd. (1177.HK) in June 2019 to co-develop and commercialize its internally developed AK105 (PD-1).
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