Cancer treatment startup AUM Biosciences raises US$27m in Series A funding

BIOTECH startup AUM Biosciences has raised US$27 million in a Series A funding round to advance its development of therapies for cancer, especially those with a clear genetic marker.

Investors in the round include Singapore-based Everlife, a distribution platform for clinical diagnostics and life sciences in South Asia, and health science venture capital firm SPRIM Global Investments.

AUM will use the funds for the clinical development of its portfolio with immediate initiation of two Phase II programmes for MNK and TRK inhibitors.

Earlier this year, AUM entered into a strategic collaboration agreement with pharmaceutical companies Handok and CMG Pharmaceutical. It also announced a partnership with Newsoara Biopharma to co-develop and co-discover next-generation cancer therapeutics.

Arjun Oberoi, executive chairman of Everlife, said: "Everlife has a strong inclination in expanding its presence in the cancer diagnostic arena. This collaboration will help position us more strongly in the overall oncology ecosystem and grants us immediate access to AUM's network of research laboratories and those of its partners in South-east Asia."