Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS), a clinical-stage biopharmaceutical company, today announced that it has participated in a new $13.5 million financing for Angel Pharmaceuticals Ltd. (Angel Pharma), the Company's collaboration partner in China. Corvus co-founded Angel Pharma in 2020 to enable the clinical development and commercialization of its pipeline in China as well as the development of other novel drugs. Corvus is Angel Pharma's largest shareholder and is investing $5 million in the current financing.

The funding is anticipated to support Angel Pharma's ongoing Phase 1b/2 trial of soquelitinib for atopic dermatitis and a new Phase 2 trial of soquelitinib for asthma. Angel Pharma anticipates that it will report results from the initial cohort of the Phase 1b portion of the atopic dermatitis trial in late 2026 and will initiate the Phase 2 asthma trial in early 2027.