Vivo Capital with Bain Capital and Primavera Capital have led a strategic investment of over $200 million in Avistone Pharmaceuticals, a clinical-stage biotechnology company focused on precision oncology therapeutics.
The investment is intended to accelerated the development of Avistone’s existing drug candidates, expand its product pipeline, expand key markets and scale its capabilities. Avistone develops oncology therapies with a focus on treatments for lung cancer. Its most advanced asset is a c-Met inhibitor for non-small cell lung cancer.
“Avistone is a science-driven, innovative biotechnology company committed to the discovery and clinical development of first-in-class and best-in-class drugs,” said Dr. Hepeng Shi, chairman, CEO, and founder of Avistone.
“As pioneers in the China pharmaceutical industry, Dr. Shi and his team have accumulated a great deal of expertise in drug discovery and clinical development of targeted therapies,” added Jiaqi Zheng, managing director of Primavera Capital. “We are delighted to become an investor and strategic partner of Avistone and are committed to supporting the Company’s mission of becoming a leading global biopharmaceutical platform of innovative precision therapeutics.”