TOT completed the B round financing of 102 million us dollars.
Suzhou, Aug. 8, 2018 -- / pr newswire.com / -- TOT BIOPHARM. (hereinafter referred to as "TOT"), headquartered in suzhou industrial park, today announced the completion of a series B financing of us $102 million (approximately 680 million yuan). This round of financing is participated by huitianfu and a number of well-known investment institutions at home and abroad, as well as existing investors including shengde group, Vivo Capital, chengcheng Capital, yuanda financial holding group and guotai venture Capital to continue to follow. TOT is specialized in the research and development, production and marketing of high-end anti-tumor drug pipeline. Currently, more than 10 drugs are under development, including 3 biological drugs and 3 chemical drugs that have obtained clinical approval of IND, and another antibody conjugation product (ADC) is expected to obtain clinical approval in the near future. With the full commitment of the technical team, milestones in each product pipeline went smoothly and in line with expectations. Ms. Huang chunying, general manager of TOT pharmaceutical, said, "we are very honored that in this financing, TOT's performance and development potential in the field of anti-tumor were not only recognized by a number of well-known investment institutions at home and abroad, but also received the continuous support of the original shareholders of TOT. This round of financing will accelerate the development of our key pipeline, and TOT will grasp the opportunity of the rapid growth of China's anti-tumor drug market. In the future, it will also take advantage of the advantages of its own industrial chain platform to expand multi-direction and multi-level international links and cooperation, so that the benefits of resource integration will be more significant.
As an important shareholder of TOT pharmaceutical, weiwu capital has cooperated with this round of new investors in many projects and fields. The original shareholders and a number of well-known institutions at home and abroad jointly participated in the b-round financing of TOT pharmaceutical, which fully shows that investors are full of confidence in the current situation and prospects of the development of TOT. As an anti-tumor drug market in China has product development, production and sales integration platform advantages of high-tech enterprises, the TOT BIOPHARM pharmaceutical industry over the years has always insisted on technology innovation and international routes, solid, steady progress, with the international field of anti-tumor multiple excellent enterprise established a comprehensive strategic partnership. The completion of series B financing will strongly promote and ensure the further acceleration of the development of new products and commercialization of existing products, and greatly enhance the competitiveness and value of TOT pharmaceutical.
A few days ago, in ASCO 2018, TOT announced the phase I clinical trial (double-blind, head-on pharmacokinetics and safety comparison) of the biosimilar bevacizumab drug TAB008, which showed that TAB008 was highly similar to the original Avastin® in terms of pharmacokinetics and safety indicators. The phase III clinical trial of TAB008 is under way and the research progress is among the top three in China. This round of capital increase will further accelerate the progress of phase III clinical trials of TAB008 and other anti-cancer research and development projects. The clinical application for TAA013, an antibody-coupled drug submitted by TOT, has also entered the review process. The threshold of antibody conjugated drugs is relatively high. Currently, the number of domestic enterprises capable of producing ADC conjugated drugs is limited. In addition, the third generation of TOT onolytic virus innovative drug TVP211 amplification process is progressing smoothly, combined with the company has the domestic leading bsl-2 certification virus workshop, TOT will continue to accelerate the development process, in this potential and application prospects of the technical field to occupy a place.
The second phase of TOT project -- monoclonal antibody r&d and production base was completed and put into operation in May 2018. The base is constructed according to international standards, and the cell culture scale can reach 16,000l. In the future, three preparation production lines will be built in the base, which can be used for filling drugs of different specifications. Prefilled needle preparation line, freeze-dried preparation line, and oel-5 level antibody conjugation drug (ADC) industrialization production workshops will also be in place. At the same time, the base also reserved the flexibility of capacity expansion and space adjustment, and combined with the existing 500 upgrade biological drug pilot platform, it can meet the requirements of biological drugs from upstream research and development, pilot production, clinical trial drugs and commercial production.
The completion of this financing is an important milestone for TOT to accelerate the commercialization of pipeline products. At the same time, combined with the monoclonal antibody research and production base in line with international standards, TOT will also open the platform to actively carry out cooperation with the outside world, and become the most distinctive enterprise and strategic partner in the field of high-end anti-tumor specialty