China: ORI Healthcare Fund leads $100m Series C investment in Kymab Group

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

UK biotech firm Kymab Group Limited, a monoclonal antibody biopharmaceutical group, has  secured a $100 million (£81 million) Series C financing from China’s  ORI Healthcare Fund L.P. (ORI Fund)a Chinese sector-focused fund that was launched by former investment banker at Goldman Sachs.

Other investors in the round include Wellcome Trust, Bill & Melinda Gates Foundation, Shenzhen Hepalink Pharmaceutical Co., Ltd, Malin Corporation plc, CF Woodford Equity Income Fund and Woodford Patient Capital plc, the company said in a statement.

The funds will enable Kymab – that focusing on generating high-quality, fully humanized antibodies to treat challenging diseases based on its proprietary platform – to advance its offerings in this space, the first of which is commencing clinical development in 2017. Other areas of focus for the company are hematology, autoimmune disease and infectious disease.

The latest Series C investment follows the US$120 million Series A & B financings.

ORI Fund is a US$200 million venture capital fund focused on investing in innovative companies with disruptive technologies in the healthcare industry globally, founded by Song Hong Fang Simone, a former investment banker and head of China Healthcare at Goldman Sachs. Its team consists mostly of former Goldman Sachs bankers and healthcare scientists.

Speaking on the investment, Dr. Dave Chiswell, CEO of Kymab, said, “We are delighted to welcome new investors ORI Fund and Hepalink and thank our existing investors for their continued support in our goal of building Kymab into a sustainable global biopharmaceutical company with a pipeline of products in four main therapeutic areas: immuno-oncology; auto-immunity; haematology and infectious disease.”

“ORI Fund and Hepalink bring deep experience of the pharmaceutical industry. Hepalink has a global reach for their products and have biologics manufacturing capability in the US. This investment will help us maximise the potential of the Kymab pipeline as we develop and commercialise monoclonal antibody medicines for patients world-wide,” Dr Chiswell added.

Simone Song, Senior Partner of ORI Fund, stated: “We are very fortunate to have the opportunity to invest in Kymab which is equipped with world class technologies, world class programs, a world class team and world class investors. We look forward to working with Dave and his team to fully realise the potential of Kymab as it enters into the clinic with a global presence.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.