Anticancer Bioscience receives additional $10.6m investment into cancer therapy

pharmafile | October 14, 2021 | News story | Business Services  

Precision oncology company, Anticancer Bioscience (ACB),  has announced that it has secured an additional $10.6 million from Chinese investors. The total raised in the seed financing round raises the total to over $31 million.

This investment will be used to further the preclinical development of the company’s two most advanced programmes, MYC-synthetic lethal and contact inhibition restoration. The proceeds will also go towards optimising lead compounds for polyploidy-synthetic lethal therapy, and towards identifing additional lead compounds for the company’s contact inhibition restoration approach to combatting cancer.

ACB is focused on applying synthetic lethal approaches to develop novel mechanisms for cancer therapies. These have the potential to be much safer and more effective than current therapies. ACB has access to world-leading cancer biology expertise and drug discovery platforms, that enable the company to identity compounds that can target both genetic and epigenetic vulnerabilities of cancer cells.

ACB has invested in developing one of the world’s largest natural product libraries, ensuring a promising future for the development of potential cancer therapeutics.

Commenting on the financing, Dun Yang PhD, Founder, President, and CEO of ACB said, “This successful financing round is a further strong endorsement of our innovative approach to identifying first-in-class and best-in-class therapeutics for the treatment of cancer, using synthetic lethal strategies.

“It underlines our progress over the past months and will help accelerate our five drug discovery programs through optimisation to candidate selection and IND enabling studies. We aim to initiate two clinical trials in 2022.”

Xiaoyin Chen, Investment Director at Three Rivers Capital said: “ACB is an emerging innovative biotech with global competitiveness. We firmly believe that only revolutionary innovations in drug discovery and development can generate great clinical benefits and value.

“ACB utilises its unique small molecule libraries and screening approaches, combined with its multiple proprietary platform technology based on synthetic lethality, to develop broad-spectrum anti-cancer drugs and strives to become the pioneer in developing novel and next-generation cancer therapies.”

Lina Adams

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