Sagimet Biosciences’ (NASDAQ:SGMT – Get Free Report) lock-up period will expire on Wednesday, January 10th. Sagimet Biosciences had issued 5,312,500 shares in its public offering on July 14th. The total size of the offering was $85,000,000 based on an initial share price of $16.00. After the end of the company’s lock-up period, major shareholders and […]
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Ascletis Joins Sagimet s US$80 Million in Crossover Financing with Premium Investors
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HANGZHOU, China and SHAOXING, China, Feb. 11, 2021 /PRNewswire/ Ascletis Pharma Inc. (HKEX: 1672) announces today that Ascletis, through its wholly-owned subsidiary, participates in Sagimet Biosciences Inc. s US$80 million in crossover financing, led by an undisclosed public equity healthcare investment fund with participation from other existing investors (Kleiner Perkins, New Enterprise Associates (NEA) and Rock Springs), along with new investors (Altium, HM Capital, Invus and PFM) (Details referring to Sagimet Biosciences press release: https://www.sagimet.com/press-releases/).
Prior to this crossover financing, Ascletis led a US$25 million Series E financing of Sagimet Biosciences in 2019. In conjunction with leading the Series E financing, Ascletis obtained an exclusive license from Sagimet Biosciences to develop, manufacture and c