Anji Pharma, operating from Cambridge, MA and Shanghai, said on 28 September that it closed a $70m series B round to fund the development of its oncology pipeline through a subsidiary known as Anji Onco Inc. and to continue the late-stage development of two clinical programs in metabolic disorders. Anji Pharma’s hub-and-spoke business model involves acquiring drug candidates by promising “dynamic equity” where the seller or licensor earns additional equity in joint venture programs as therapeutics achieve clinical milestones. Spokes in Anji’s hub – subsidiaries like Anji Onco – will develop the licensed or acquired programs in metabolic diseases, oncology, neuroscience and infectious diseases. Anji’s lead program ANJ900 is a gut-targeted formulation of metformin that is in Phase III for patients with type 2 diabetes and moderate renal impairment with plans for a Phase III study in diabetes patients with severe chronic kidney disease. ANJ908, which is designed to increase fecal water content and bowel movement frequency, is in Phase II for chronic idiopathic constipation with Phase II results expected in mid-2022.

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