Investment Update: West Fountain Parallel Fund Invested second time in Innovative Pharma Company Arkbio
In the second half of 2020, West Fountain China Parallel Fund completed the Series C investment in the leading Innovative antiviral pharmaceutical company Ark Biosciences. On January 22, the company announced that it had once again completed the C+ round of financing. This round was jointly led by Hillhouse Ventures, and TPG, and West Fountain China Parallel Fund also made the follow-on investment.
Ark Biosciences is a biopharmaceutical company focusing on the R&D of innovative drugs, especially antiviral drugs, focusing on pediatric diseases and respiratory diseases. With a strong team covering the entire process from drug discovery to clinical development, the company has deployed more than 10 innovative drug pipelines across these fields and is committed to becoming the world's leading biotechnology company in the development of innovative antiviral and pediatric drugs.
The company’s Ziresovir (AK0529) is the world’s first anti-respiratory syncytial virus (RSV) innovative drug to enter a phase III clinical trial; previously, in a global multi-center phase II clinical proof-of-concept trial, Ziresovir has been proven to be beneficial for hospitalized RSV infants and children. In September 2020, the Center for Drug Evaluation (CDE) of the National Medical Products Administration of China announced that AK0529 enteric-coated capsules will become the fifth breakthrough drug category and the first non-cancer drug on the list.
Several other projects of the company have also achieved significant breakthroughs. For example, AK3280, which is used to treat a variety of fibrotic diseases such as idiopathic pulmonary fibrosis, has completed overseas phase IB clinical trials, and will soon carry out bridging trials and phase II clinical studies in China; The First-in-Class small molecule compound AK0706, which is used to treat hepatitis B (HBV), has reached an exclusive strategic partnership with Amoytop Biotech for drug development and commercialization in China.
In recent years, West Fountain Parallel Fund has been deeply rooted in the field of biomedicine and has successively invested in a number of leading biomedical companies. Some biomedical companies, including the world's leading early cancer screening company Grail, will have their IPO within this year. West Fountain China Parallel Fund has full confidence in the technical expertise and scientific research capabilities of the founder and the R&D team of Ark Biosciences. The fund believes that Ark Biosciences will also generate excellent returns for investors.