Ascletis, 3-V Biosciences raise $18 million for phase 2 NASH therapy

3-V Biosciences has entered an exclusive license agreement with Ascletis Pharma for Ascletis to develop, manufacture and commercialize 3-V Biosciences’ nonalcoholic steatohepatitis therapy TVB-2640 in Greater China, according to a press release.

3-V Biosciences raised $18 million in Series E financing led by Ascletis, which 3-V Biosciences plans to use to support the continued development of TVB-2640, a fatty acid synthase inhibitor, in the U.S. and China.

“We are excited about this strategic collaboration with 3-V Biosciences. Results from the phase 1b trial showed significant decrease in liver fat synthesis and indicate that ASC40 (TVB-2640) may be a promising treatment for NASH,” Jinzi J. Wu, PhD, founder, chairman and CEO of Ascletis, said in the release. “There are no approved therapies today for NASH in China and globally. We’re thrilled to develop ASC40 (TVB-2640) for NASH in Greater China and support 3-V Biosciences’ phase 2 multi-center trials in the United States and China.”

In addition to the Series E financing, Qianhai Ark Investment Co. Limited, New Enterprise Associates, and Kleiner Perkins have committed $7 million each in subsequent financing to the research and development of TVB-2640, including its phase 2 trials for NASH.

“I am excited to see the advancement of this compound; lipid synthesis is an important driver of NASH,” Rohit Loomba, MD, from the University of California, San Diego, and principal investigator of the upcoming phase 2 study, said in the release. “This study will evaluate the impact of TVB-2640 on liver fat using advanced imaging techniques that are expected to predict the ability of this drug to address this unmet medical need.”

Reference: www.ascletis.com; www.3vbio.com