<article>US-based biopharmaceutical company <a href="https://www.dealstreetasia.com/?s=Apollomics, Inc." target="_blank" rel="noopener">Apollomics, Inc.</a> on Monday announced that it has raised $100 million in a Series B financing round led by Hong Kong&#8217;s <a href="https://www.dealstreetasia.com/?s=CMB International (CMBI)" target="_blank" rel="noopener">CMB International (CMBI)</a>, a subsidiary of China Merchants Bank.</article>

US-based biopharmaceutical company <a href="https://www.dealstreetasia.com/?s=Apollomics, Inc." target="_blank" rel="noopener">Apollomics, Inc.</a> on Monday announced that it has raised $100 million in a Series B financing round led by Hong Kong&#8217;s <a href="https://www.dealstreetasia.com/?s=CMB International (CMBI)" target="_blank" rel="noopener">CMB International (CMBI)</a>, a subsidiary of China Merchants Bank.
Existing backer OrbiMed Asia, and several new investors also took part in the round, Apollomics said in a statement.
The company will use the capital to advance multiple oncology programmes, explore new treatment areas, increase its asset pipeline, and add to its team and infrastructure, the statement added.
As part of the investment, Apollomics has inducted Kexiang Zhou, Managing Director, CMBI to its board of directors.
Along side the funding, the company also announced a corporate name change and rebranding from CBT Pharmaceuticals, Inc. to Apollomics, and launched a new logo and website.
&#8220;With this Series B funding and a physical presence in the United States, China, and Australia, Apollomics is poised to expand its clinical development programs globally. Together with our established partners in China, we currently have over 10 clinical trials ongoing, and we will continue creating value for our investors by developing innovative solutions in the fight against cancer,&#8221; Guo-Liang Yu, CEO of Apollomics, said.
Apollomics, incubated by OrbiMed Asia at inception, is engaged in the discovery and development of oncology combination therapies that harness the immune system and target specific molecular pathways to eradicate cancer.
OrbiMed Asia also led the first financing of Apollomics, which was established in 2016.
The company also said that it will relocate its headquarters from Hangzhou, China to Foster City, CA. to accommodate its expansion in the US. In 2018, the company established its presence in Hangzhou to build an R&amp;D facility as well as manufacturing capabilities to advance its pipeline programmes in China and the rest of the world.
CMBI is an investment firm that seeks to invest through its subsidiaries in financial services, financial advisory, and investment banking businesses and in entities that have focused their investments in financial instruments, including derivatives and equity. Its other portfolio firms include game live-streaming platform Douyu, United Imaging Healthcare, used cars platform Chehaoduo, and Bona Film Group.
Also Read:
<a href="https://www.dealstreetasia.com/stories/china-qiming-venture-joins-55m-series-b-round-of-connect-biopharma-115879/">China: Qiming Venture joins $55m Series B round of Connect Biopharma</a>
<a href="https://www.dealstreetasia.com/stories/qiming-antengene-seriesb-115783/">Qiming-backed biopharma firm Antengene raises $120m Series B round</a>

US-based biopharmaceutical company Apollomics, Inc. on Monday announced that it has raised $100 million in a Series B financing round led by Hong Kong's CMB International (CMBI), a subsidiary of China Merchants Bank.

CMB International leads $100m funding in US biopharma firm Apollomics

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

CMB International leads $100m funding in US biopharma firm Apollomics

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief