Bliss Biopharmaceutical (Hangzhou) Co., Ltd. (“BlissBio”) announces the completion of over 400M CNY Series-B financing round. The financing was led by GL Ventures, the venture capital unit of Hillhouse Capital, with participation from Cormorant Asset Management, VMS Group, and Heda Biopharmaceutical Venture Capital. The Series B financing round was also supported by existing investors, Sherpa Healthcare Partners and Oriental Fortune Capital. CEC Capital Group acted as the exclusive financial advisor in the transaction. Proceeds from the financing will be used to advance the international multi-site clinical studies of BB-1701, pre-clinical studies and regulatory submission of other projects in the pipeline, and construction of new R&D and manufacturing center. BB-1701, a new antibody-drug conjugate (ADC), is conducting Phase I clinical trial both in China and US. Its toxin Eribulin, licensed from Eisai, is an oncology product on the market with clinically proven safety and efficacy profiles. BlissBio has the global rights of development and commercialization of the ADC product BB-1701. Another Eribulin-ADC BB-1705 is expected to file IND application to the US FDA and China NMPA this year. Meanwhile, BlissBio has also developed a unique site-specific conjugation technology platform with independent IP protection. BlissBio is actively developing multiple best-in-class and first-in-class products with high potential.
Arrail Group (“Arrail” or the “Company), a leading dental service provider in China, announced that it has closed its Series E financing, with a transaction value of nearly $200M. The transaction was led by Temasek, with participation from OrbiMed, Ward Ferry, Hina Group, Industrial Bank and Mirae Asset. CEC Capital Group was the exclusive financial advisor on this transaction, and is proud to have advised Arrail since its Series A round of financing.