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Ignis Formed with $180 Million to Develop SK Bio's CNS Candidates in China

publication date: Nov 11, 2021

Ignis Therapeutics of Shanghai announced an initial funding of $180 million in a Series A round led by China's 6 Dimensions Capital. The company, which was spun out from South Korea's SK Biopharma, plans to bring SK Biopharma's CNS drug assets to China. Initially, Ignis in-licensed China rights to six of SK's CNS drugs in exchange for $20 million upfront and a $15 million milestone payment. Ignis will also pay royalties on sales. SK plans to acquire 150 million Ignis shares before the end of the year. More details....

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