BRIEF—EOC Pharma funded to take western drugs to China

EOC Pharma Group, an oncology company focused on in-licensing drugs discovered in the western world for development and commercialization in China, today announced that it has completed a $32 million Series B financing led by Taikang Investment through Shandong State-owned Taikang Industry Development Fund.

Sequoia China, EOC’s Series A lead investor, and H&Q Asia Pacific also participated in the round.

EOC Pharma has licensed clinical-stage, potentially transformative product candidates from leading global pharmaceutical and biotech companies.

The company has a broad portfolio of drug candidates, including two innovative small molecule products expected to enter Phase III registration studies in China in 2018 for the treatment of breast cancer and gastric cancer, respectively. Its pipeline also includes innovative biologics being developed for indications in immuno-oncology and tumor metastasis.