AnHeart Announces Entry into Series A+ Equity Financing Agreements
HANGZHOU, China and NEW YORK, Aug. 09, 2020 (GLOBE NEWSWIRE) -- AnHeart Therapeutics, Co., Ltd. (“AnHeart”), a clinical stage oncology company focused on underserved patients in global markets, has entered into agreements to raise over 20 million USD in an over-subscribed Series A+ equity financing round.
Proceeds from the financing will be used to advance the global Phase 2 trials of taletrectinib, a potent and highly selective next generation ROS1/NTRK inhibitor as well as to further expand AnHeart’s oncology portfolio.
“The financing will permit us to execute on our global development plan for taletrectinib, and help advance this differentiated cancer drug for utilization in a large population of NSCLC patients with ROS1 and NTRK mutations,” said Junyuan (Jerry) Wang, PhD, Chief Executive Officer of AnHeart. “In addition, we desire to expand into other oncology adjacencies where we may have a competitive advantage and to deepen our pipeline over time. We value the support of our experienced and esteemed investors to help us execute on our vision.”
The results of two Phase 1 studies in the US and Japan support the potential of taletrectinib to be a next generation ROS1/NTRK inhibitor with durable responses and activity in brain metastases. Based on a data cutoff date in March 2019 from two Phase 1 trials, the mPFS in TKI-naïve and 1 TKI-pretreated patients were 24.9 months and 18.4 months, respectively, with a generally acceptable safety profile. More information about the Phase 1 and ongoing phase 2 trials may be found at clinicaltrials.gov with NCT02279433, NCT02675491 and NCT04395677.
Forward Looking Statements
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