China's Ascletis raises $20M for hep C R&D

Chinese biotech Ascletis raised $20 million from Goldman Sachs ($GS) to advance its pipeline of treatments for hepatitis C and invest in R&D infrastructure. The latest equity investment comes just a few months after the company closed a $35 million round, and Ascletis plans to spend its new cash on an ongoing Phase II study of a hep C combination therapy, now underway in Taiwan. The Hangzhou-headquartered company is also earmarking funds for the construction of a manufacturing facility. Release