Ascentage Pharma, a spin-out of oncology company Ascenta Therapeutics, received $3m in funding from biotechnology company 3SBio in February.

Ascentage Pharma Group Corporation, a China-based oncology drug developer backed by biotechnology company 3SBio, has raised $15.5m in series C funding, China Money Network reported today, citing local media reports.

The round was co-led by Oriza Capital, which acts as a subsidiary of investment holding company Suzhou Oriza Holdings, and venture capital fund YuanMing Capital.

Ascentage was spun out of US-based oncology drug company Ascenta Therapeutics in 2009, and is working on small molecule drugs to treat cancer by triggering…

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