On January 8, 2021, Abbisko Therapeutics Co., Ltd., an oncology-focused biopharmaceutical company, announced the completion of its Series D financing of US$123 million. The proceeds from this round will be used to accelerate the progress of Abbisko Therapeutics’ clinical programs and further expand its preclinical pipeline consisting of multiple programs in discovery to IND-enabling stages. Wilson Sonsini Goodrich & Rosati acted as counsel to Warburg Pincus, a lead investor in Abbisko Therapeutics’ Series D financing.

Abbisko Therapeutics is dedicated to the discovery and development of innovative medicines for unmet medical needs in China and around the world. The company was founded by a group of seasoned drug hunters with rich research and managerial experience at top multinational pharmaceutical companies, as well as Chinese industry leaders. Abbisko Therapeutics is currently focused on targeted therapy and immune-oncology areas with targets of high novelty and potential to discover and develop first-in-class or best-in-class small molecule drugs.

Warburg Pincus is a leading global private equity firm. Since inception, Warburg Pincus has successfully raised 19 funds and has invested over $86 billion in more than 910 companies globally. Since entering China in 1994, Warburg Pincus has invested over $14 billion in more than 140 companies in the region. It is one of the most active investors in the China healthcare industry, having invested more than $1.7 billion in the sector. Select investment cases include Haihe Biopharma, Lepu Medical, Wuxi AppTec, China Biologics, Hygeia, and Jinxin Fertility.

The Wilson Sonsini team was led by partners Weiheng Chen and Jie Zhu, and included Xuchao Dong.

For more information, please see Abbisko Therapeutics’ press release.