AnHeart Announces Entry into Series A+ Equity Financing Agreements

HANGZHOU, China and NEW YORK, Aug. 09, 2020 (GLOBE NEWSWIRE) -- AnHeart Therapeutics, Co., Ltd. (a??AnHearta??), a clinical stage oncology company focused on underserved patients in global markets, has entered into agreements to raise over 20 million USD in an over-subscribed Series A+ equity financing round.
Proceeds from the financing will be used to advanceA the global Phase 2 trials of taletrectinib, a potent and highly selective next generation ROS1/NTRK inhibitor as well as to further expand AnHearta??s oncology portfolio.a??The financing will permit us to execute on our global development plan for taletrectinib, and help advance this differentiated cancer drug for utilization in a large population of NSCLC patients with ROS1 and NTRK mutations,a?? said Junyuan (Jerry) Wang, PhD, Chief Executive Officer of AnHeart. a??In addition, we desire to expand into other oncology adjacencies where we may have a competitive advantage and to deepen our pipeline over time. We value the support of our experienced and esteemed investors to help us execute on our vision.a??About Taletrectinib:
The lead clinical candidate taletrectinib is a next-generation, potent, highly selective ROS1 and NTRK inhibitor that can cross the blood-brain barrier. AnHeart licensed the global rights to taletrectinib from Daiichi Sankyo Company Limited. Two Phase 1 studies in the U.S. and Japan have been reported with promising safety and efficacy data. Taletrectinib inhibits both ROS1 fusion WT andA  crizotinib-resistant secondary mutations, including G2032R. There is no approved drug against resistant mutations like G2032R, which may lead to rapid penetration of taletrectinib in major global markets. The mutation rate of the oncogenic driver ROS1 fusion is about 2 to 3 percent in patients with advanced NSCLC, and the rate of NTRK fusion is about 0.5 percent in patients with various solid tumors. The estimated number of new patients diagnosed with advanced NSCLC each year is about 1.8 million worldwide.The results of two Phase 1 studies in the US and Japan support the potential of taletrectinib to be a next generation ROS1/NTRK inhibitor with durable responses and activity in brain metastases. Based on a data cutoff date in March 2019 from two Phase 1 trials, the mPFS in TKI-naA?ve and 1 TKI-pretreated patients were 24.9 months and 18.4 months, respectively, with a generally acceptable safety profile. More information about the Phase 1 and ongoing phase 2 trials may be found at with NCT02279433, NCT02675491 and NCT04395677.
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