BRIEF—Anticancer Bioscience announces $10 million financing

Chengdu, China-based Anticancer Bioscience (ACB), a pioneer in synthetic lethal approaches to precision oncology, announced today that, having successfully closed an additional financing round, raising 63 renminbi (~$10 million), it has already achieved positive animal data in its small molecule program targeting MYC overexpression.

The financing, by a small syndicate of undisclosed, experienced Chinese angel investors adds to the previous seed financing of 68.75 million renminbi and is being used to support further expansion of ACB’s proprietary screening libraries and discovery platforms, with the goal of progressing two of its programs towards investigational new drug (IND)-enabling studies this year.

ACB is an international private company, commercializing discoveries emerging from China’s world-leading cancer research at the J Michael Bishop Institute of Cancer Research.