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KeChow Completes $45 Million Round for Novel Cancer Drug Development
December 17, 2019

Published by ChinaBio Today

KeChow Pharma, a novel drug developer located in Shanghai Zhangjiang High-Tech Park, completed a $45 million Series C round of financing. The company discovers targeted small molecule drugs for cancer that have competitive advantages over existing therapies and co-develops them with partners. KeChow will use the proceeds to support development of HL-085, a novel MAP kinase 1 inhibitor already in trials for malignant melanoma and solid tumors. The round was led by Decheng Capital, with participation from Qiming Venture Partners, Sherpa Capital and Grains Valley Venture Capital.

BFC Group acted as the exclusive financial advisor in this financing. With the C round, KeChow has raised a total of $60 million in four financing rounds.

KeChow Pharma was founded in 2014 by Dr. Tian Hongqi, Lilly Asia Ventures and Morningside Venture Capital. It is recognized as a key biotech company by Shanghai's local government.

It has listed three Phase I trials for HL-085, three in China and one in the US, though only two of them have begun enrolling patients. Each one is aimed at assessing safety and maximum tolerated doses. The trials are:

• A China Phase I trial for non-small cell lung cancer with combination with docetaxel in patients with KRAS mutant NSCLC (NCT03990077);

• A China Phase I stand alone study of HL-085 in patients with advanced solid tumors;

• US Phase I trials in patients with solid tumors who have either late-stage disease or have failed at least one previous treatment (NCT03976050);

• A China Phase I dose escalation study to evaluate safety, pharmacokinetics and preliminary efficacy of HL-085 plus vemurafenib (Genentech's Zelboraf, an inhibitor of the B-Raf enzyme) in patients with BRAF V600 mutant advanced solid tumors (NCT03781219).

Dr. Hongqi, founder and chairman of KeChow Pharma, said, "As an innovation-driven company, our goal is to develop best-in-class innovative drugs to meet clinical needs, meanwhile cultivating outstanding talents, so as to strengthen our team building and develop the company into a strong new drug development company."

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