Lead Therapeutics has pocketed $17 million in its first venture round. Much of that money will go to advance its two candidates for infectious diseases and oncology. Pappas Ventures and ProQuest Investments led the round for Lead, which plans to do most of its research in China.
"Lead Therapeutics' business strategy is designed to capitalize on the best scientific and technical resources of both China and the United States, enabling the company to more cost efficiently deliver high quality IND candidates that can currently be achieved in the West alone," said Alain Schreiber, MD, Partner at ProQuest Investments. "Moreover, by establishing R&D capabilities within China, the company will be well-positioned over time to benefit from increasing demand for China capabilities from Western pharmaceutical companies."
- check out the release for more information