Phanes Therapeutics Announces $40 million Series B Financing

SAN DIEGO and SHANGHAI, May 25, 2021 /PRNewswire/ -- Phanes Therapeutics, Inc. (Phanes), an emerging leader in innovative drug discovery in immuno-oncology, announced today the completion of $40 million Series B financing. The round of financing was led by Sequoia Capital China with participation from new investors and current shareholders. The proceeds from this round will be used to advance several preclinical programs to clinic, expand the research and clinical teams, and support the advancement of research projects in the PACbody™ and ATACCbody™ platforms.

"This round of financing will accelerate our robust growth. We are excited about the opportunity of making a major impact in the immuno-oncology field," said Ming Wang, PhD/MBA, CEO of Phanes Therapeutics, "At Phanes, our mission is to become a major source of innovation in the biopharma industry, and we are fully committed to delivering innovative therapies to patients."

About PhanesPhanes is a biotech company focused on discovery and development of innovative biologic drugs in oncology and eye diseases. Based in San Diego (USA) and Shanghai (China), the company's management team members previously held senior managerial and R&D positions in leading global pharmaceutical and biotech companies, with tremendous experience in R&D, business development and commercialization. For more information, please visit www.phanesthera.com.

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SOURCE Phanes Therapeutics