On January 11, 2018, Suzhou Kintor Pharmaceuticals, Inc. ("Suzhou Kintor") announced the completion of Series C investment of RMB 288 million. This round of investment was led by Green Pine Capital Partnership, and followed by Orient Securities Capital Investment, Hangzhou Betta Capital, CCB Investment, and Shanghai Broad Resources, etc. The original investors Highlight Capital and Oriza Holdings also participated in this round of investment. The funds raised in this round will be mainly used to complete the phase I-III clinical trials of proxalutamide for prostate cancer and breast cancer, which are simultaneously undertaken in China and the United States. Also, it will be used to advance the clinical development of other four anti-cancer innovative drugs under study.
Since its inception, Suzhou Kintor has been devoted to research on the three major high-incidence tumors of prostate cancer, breast cancer and liver cancer in the world. It develops a multi-channel product portfolio with advanced cancer treatment as its core goal, adheres to the combination of independent development and external introduction, strives to provide the optimal drug solution for cancer patients, focuses on building "best-in-class" and "first-in-class" innovative drug R&D and industrialization platforms, and works hard to build Chinese leading enterprise in development of anti-tumor innovative drugs.
Mr. Fei Luo, founding partner of the lead investor, Green Pine Capital Partnership, said, "Green Pine Capital Partnership is very pleased to invest in Suzhou Kintor as a lead investor. The company has a mature novel drugs R&D platform. Its main product, proxalutamide, has good data of phase I clinical, which has entered the phase II clinical trials. Clinical trials are concurrently conducted in China and the United States. Proxalutamide is one of the few products that have been listed in the special projects of “Significant Novel Drugs Development” in both National 12th and 13th Five-Year Plans. The team has more than 20 years of drug research and development, clinical trials design and management, and entrepreneurial experiences in the United States. It is expected that Suzhou Kintor’s innovative drugs come to market as soon as possible, thus bringing blessing to patients, and contributing to the country's major novel drugs development."
Mr. Hui Wang, as the managing partner of Highlight Medical, the Series B leading investor of Suzhou Kintor, said, "I am very pleased to see the solid progress made by Suzhou Kintor. We have been accompanying Suzhou Kintor since 2015 and will continually, firmly support it in the future. It is consistent style of Highlight Medical’s team to grow together."
"Suzhou Kintor is committed to making overall arrangement for innovative drugs in its focused cancer treatment field as soon as possible, thereby providing more effective and safer treatment options for advanced cancer patients in China and around the world." Dr. Youzhi Tong, Chairman and CEO of Suzhou Kintor said, "This round of investment will be an important milestone in the development history of Suzhou Kintor, and will accelerate the company's growth into a biotechnology enterprise leading in technology and product. We especially thank old and new investors for their recognition of and support to the team, novel drugs projects and clinical market development strategies of Suzhou Kintor ."