ASLAN Pharmaceuticals raises US$34m in Series C funding

ASLAN Pharmaceuticals has raised US$34 million in Series C funding led by Accuron Technologies, a wholly-owned subsidiary of Temasek Holdings.

The Singapore-based biotech startup, founded in 2010, develops drugs that are targeted at prevalent tumour types in Asia, including gastric cancer, cholangiocarcinoma and hepatocellular carcinoma.

It will use the latest proceeds to further accelerate clinical development of its pipeline of four novel therapeutic agents, which have the potential to treat tumour types highly prevalent in Asia, ASLAN said in a statement on Monday.

Other new investors in the round include Tianda Pharmaceuticals and Haitong International. Existing investors Morningside, Bioveda, Cenova and Sagamore Bioventures also participated in the round.

This follows a US$12 million Series A funding ASLAN had secured in 2011 and a US$22 million Series B round in 2013.