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AnHeart Therapeutics Announces $61 Million in Series B Financing

December 15, 2021 (New York, New York) ─ AnHeart Therapeutics (“AnHeart”), a clinical-stage global biopharmaceutical group company committed to developing novel precision oncology therapies, today announced the completion of a $61 million oversubscribed Series B financing round led by new investor Octagon Capital, with participation from Innovent Biologics, Cenova, Laurion Capital, and Sage Partners. China eCapital Partners, the US affiliate of CEC Capital Group, a leading Asia-based investment bank, advised AnHeart Therapeutics on the transaction. The Company has raised a total of $100 million in gross proceeds from private financings since its founding in December 2018.

The proceeds from the Series B financing will be used to advance the clinical development of AnHeart’s lead asset, taletrectinib, a next-generation ROS1 inhibitor currently in Phase 2 trials in non-small cell lung cancer (NSCLC), and support the continued expansion of its pipeline of precision next-generation oncology therapeutics.

ROS1 oncogenic fusions are observed in approximately 1-2% of or about 20,000 NSCLC patients each year worldwide. ROS1 fusions are also observed in several other cancers such as cholangiocarcinoma, glioblastoma, ovarian, gastric, and colorectal cancers. NTRK fusions are oncogenic driver across multiple advanced solid tumors and observed in more than 90% in very rare cancers such as secretory breast carcinoma, mammary analogue secretory carcinoma of salivary gland and infantile fibrosarcoma, 12.1~14.5% of papillary thyroid cancer and 10.3% of non-brainstem high grade glioma. Incidence of NTRK fusions is below 5% in more common cancers such as lung, breast, melanoma, and colon cancer.

Taletrectinib is a potent, novel, highly selective, next-generation ROS1/NTRK inhibitor for solid tumors with ROS1 fusion or NTRK fusion mutations. It can overcome crizotinib resistance and cross the blood-brain barrier. There is currently no FDA approved drug targeting crizotinib resistance mutations. Taletrectinib is currently in China TRUST trial (Taletrectinib ROS1 LUng STudy, NCT04395677), global TRUST II trial (NCT04919811) and the basket trial in NTRK fusion positive solid tumors (NCT04617054). Impressive interim data of the TRUST Phase 2 trial for NSCLC have been published at ASCO and CSCO earlier this year.

“AnHeart is delighted to partner with this group of top-tier, leading healthcare investors to advance development of our pipeline of precision oncology therapeutics. We have made tremendous progress since we founded AnHeart in 2018,” Junyuan (Jerry) Wang, Ph.D., Co-Founder and Chief Executive Officer of AnHeart Therapeutics. “This financing reflects strong support for our platform, people, and comprehensive development strategy.”

“This strong investment group, comprised of both healthcare specialist funds and a leading biopharma company allows us to accelerate development of our unique pipeline of targeted therapies,” said Lihua Zheng, J.D., Ph.D., Co-Founder and Chief Business Officer of AnHeart Therapeutics. “The funding will also allow us to continue expanding our team of world-class scientists and researchers focused on bringing game-changing cancer therapeutics to improve patients’ lives.”

“We were attracted to AnHeart by the excellent science, experienced management team and broad pipeline of targeted small molecule therapeutics,” said Dr. Ting Jia, “TJ”, Ph.D., Founder, Octagon Capital, a New York-based healthcare specialist fund active in both private and public markets. “AnHeart’s lead asset taletrectinib is a promising potential new therapeutic in ROS1 fusion-positive lung cancer patients, with impressive preliminary Phase 2 clinical data reported at ASCO and CSCO this year. In addition, we see a tremendous opportunity for AnHeart’s pipeline to produce novel, targeted therapies to address significant unmet medical needs across a broad range of difficult-to-treat cancers.”

About AnHeart Therapeutics

AnHeart Therapeutics (“AnHeart”), a Cayman Islands entity (registered name AnBio Therapeutics Ltd.), is a clinical-stage global biopharmaceutical group company developing a broad pipeline of novel or next-generation precision oncology therapeutics with high unmet medical needs. Its lead asset, taletrectinib, is a next-generation ROS1 and NTRK inhibitor currently in Phase 2 trials for the first-line and second-line ROS1 fusion positive non-small cell lung cancer (NSCLC) and NTRK fusion positive solid tumors. The Company’s pipeline also includes AB-218, a mIDH1 inhibitor in Phase 2 trials for lower grade glioma, cholangiocarcinoma, AML and other tumors and AB-329, an AXL inhibitor in Phase 1 studies to be used in combination with checkpoint inhibitor or chemotherapies in NSCLC, ovarian cancer and breast cancers. The Company operates from offices in the US and China.

About China eCapital Partners, LLC

China eCapital Partners, LLC (CEC Capital) is the US affiliate of CEC Capital Group and has offices in Los Angeles and San Francisco. CEC Capital provides M&A and private placement advisory services to clients in the TMT, consumer and healthcare sectors. As the US affiliate of CEC Capital Group, CEC Capital facilitates cross-border transactions involving the Asia-Pacific markets, including Greater China, Japan, South Korea, and Southeast Asia.

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About CEC Capital Group

Founded in 2000, CEC Capital Group (formerly known as China eCapital Corporation) is a leading private investment bank in China with a core focus on the TMT, consumer and healthcare sectors. Headquartered in Beijing with offices in Shanghai, the Company provides M&A, private placement, and asset management services to its clients both in and outside of China. To ensure that clients receive the most comprehensive buy-side coverage, its ECM team has established close contact with over 3,000 institutional investors in China, ranging from large conglomerates and A-share listed companies to established financial institutions, and asset management firms.

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