Business
Zentera Therapeutics Announces Closing of $75 Million Series B Financing
Proceeds will be used to advance the development of three Zentalis-discovered oncology clinical candidates as well as business development for future pipeline
About this update from Zentalis Pharmaceuticals, Inc.
[{"type":"text","content":"Proceeds will be used to advance the development of three Zentalis-discovered oncology clinical candidates as well as business development for future pipeline additions in China\nSHANGHAI, China, Aug. 02, 2021 (GLOBE NEWSWIRE) -- Zentera Therapeutics, a clinical-stage biopharmaceutical company with headquarters in Shanghai, China, today announced the successful completion of a $75 million Series B financing. Founding investors OrbiMed Advisors Asia and Tybourne Capital Management led this financing, and were joined by Avidity Partners, Casdin Capital, Surveyor Capital (a Citadel company), Farallon Capital Management, Lilly Asia Ventures (LAV), Logos Capital, Perceptive Advisors, Redmile Group and Viking Global Investors in the syndicate. Zentera was formed by Zentalis Pharmaceuticals, Inc. (Nasdaq: ZNTL) to develop cancer therapies in China. Zentera plans to use the proceeds from the Series B financing to advance the clinical development in China of three of Zentalis’ product candidates, its WEE1 inhibitor ZN-c3, its oral SERD ZN-c5, and its BCL-2 inhibitor ZN-d5, as well as expand its pipeline through additional business development opportunities for China and global development. Zentera has four Clinical Trial Applications (CTA) approved in China to date. “Since inception last year, Zentera has made tremendous progress on both the clinical and corporate fronts, advancing its first two candidates into the clinic, receiving numerous CTA approvals, as well as growing its passionate team of scientists and researchers,” said Dr. Anthony Sun, Chairman and Chief Executive Officer at Zentalis and Chief Executive Officer at Zentera. “We are appreciative of the ongoing financial support from our world-class investors, and we plan to utilize the proceeds to advance and expand our pipeline of candidates, with two ongoing clinical trials and plans to have one more trial ongoing by year-end. Looking ahead, we believe we are well positioned to become a leading Chinese biopharmaceutical company and are one step closer to accomplishing our goal of delivering life-changing oncology drugs to patients globally.” About Zentera TherapeuticsZentera Therapeutics, Inc. is a Shanghai based clinical-stage biopharmaceutical company focused on developing cancer therapeutics. The Company aims to become a leading Chinese biopharmaceutical company with the g...