Qiming, Hillhouse lead Jacobio's $55M series C

Cancer company Beijing Jacobio Pharmaceutical Co. Ltd. (Beijing, China) raised $55 million in a series C round led by Qiming Venture Capital and Hillhouse Capital. Prudence Investment Management also participated.

Jacobio's lead candidate JAB-3068, a small molecule against an undisclosed target, is in Phase I testing to treat advanced solid tumors. The company is also developing JAB-3000, an anti-tumor therapy against protein phosphatase, to treat cancer. Jacobio hopes to bring up to four programs into the clinic over the next two years...