Anji Pharma adds $70M for clinical trials, expansion of ‘hub and spoke’ biz model

Cross-border biotech Anji Pharma closed $70 million in Series B funding to advance a drug pipeline that includes metabolic and cancer drugs. The biotech’s business model of finding promising drugs and forming subsidiaries to develop them is similar to approaches taken by Roivant Sciences and BridgeBio Pharma, among others.