Abbisko Therapeutics raises $123 million

Chinese biotech company Abbisko Therapeutics has raised $123 million from more than a dozen investors, including The Carlyle Group and Warburg Pincus LLC.

Abbisko said in a news release that Carlyle led the latest fundraising with Warburg, OrbiMed, Lake Bleu Capital, and an unnamed Boston-based investor as the joint leading investors. Other investors include Janchor Partners, Sage Partners, SHC, and Greater Bay Area Homeland Development Fund.

The company, which did not disclose its valuation in the fundraising, said the proceeds will be used to accelerate the progress of its clinical programs and further expand its preclinical pipeline.

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