Rakuten Aspyrian grows series C to $284M

Rakuten Aspyrian Inc. (San Diego, Calif.) raised $134 million led by CEO Hiroshi Mikitani in the second tranche of a $284 million series C round as the company conducts a Phase III trial of photoimmunotherapy ASP-1929 in patients with recurrent local regional head and neck carcinomas.

New investors including SBI Group and Japanese e-commerce company Rakuten Inc. (Tokyo:4755) participated in the expansion as did undisclosed existing investors. Mikitani, who became CEO of Rakuten Aspyrian last in November, is chairman and CEO of Rakuten Inc...