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Crown Bioscience, Inc. Announces Closing of Series C Financing
Date:5/4/2011

th through this financing round," he added.

"We are excited to bring on new investors with the caliber and expertise of OrbiMed," said Alex Wu, co-founder and CEO of Crown Bioscience. "By leveraging our unique assets and expertise in drug design and translational oncology CrownBio has established itself as a leading innovation engine for the discovery and development of novel cancer therapeutics  We have already developed partnerships with the leading pharmaceutical companies in China and around the world. This additional capital will enable us to solidify our leadership position in oncology, and to apply our learning in translational medicine into other therapeutic areas. Our company is well-positioned to take advantage of the fast growing global outsourcing market."

Dr. Chang will join the board of CrownBio in connection with this transaction.

About Crown Bioscience, Inc.

Crown Bioscience, Inc. is a leading biotech company that provides its global biopharmaceutical industry partners with innovative and integrated solutions. Leveraging on its proprietary technology platforms in structure-based drug design and translational oncology, the company pioneers a business model that addresses the critical need of the pharmaceutical industry to improve R&D productivity while minimizing risks and retaining upside. Since its inception, CrownBio has been providing value-added services to help partners to identify the most promising compounds for clinical testing, and more importantly, enable its partners to develop strategies for biomarker development and patient stratification, an effort central to developing personalized cancer therapeutics.

As a leading cancer drug discovery partner, the company has established strategic partnerships with Pfizer and other large global pharmaceutical companies and leading Chinese pharmaceutical firms. The mandate of these partnerships is to deliver oncology clinical candidates with w
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SOURCE Crown Bioscience, Inc.
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