Crown Bioscience, a Santa Clara, CA-based cancer drug developer, said it has raised $28.8 million in a Series C venture financing. The deal was led by OrbiMed Advisors Caduceus Asia Partners Fund, Argonaut Private Equity, the CID Group, IBT, and CDIB Capital Investment. Existing shareholders Qiming Venture Partners and CRCI also participated. Orbimed’s Nancy Chang said in a statement that Crown has “a strong leadership position in fully integrated cancer drug discovery service in China.”
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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