Connect Biopharma closes $115m in Series C round led by RA Capital

Suzhou

US and China-based clinical-stage biopharmaceutical firm Connect Biopharma on Monday announced the completion of a $115-million Series C round of financing led by new investor RA Capital Management, a Boston-based multi-stage investment company.

Biomedical venture capital firm Lily Asia Ventures, San Diego-based biotech investment fund Boxer Capital and HBM Healthcare Investments, a Swiss investment firm in the healthcare field, joined existing investor Qiming Venture Partners in the new round, said Connect Biopharma in a statement.

RA Capital principal Derek DiRocco will join Connect Biopharma’s board of directors.

Founded in 2012, Connect Biopharma operates as a clinical-stage biopharma firm focused on the discovery and development of novel immune modulators for the treatment of autoimmune diseases and inflammation. Connect Biopharma plans to use the proceeds to support the ongoing clinical trials of its lead drug candidates.

In January 2019, Connect Biopharma completed a $55-million Series B round led by China-focused private equity firm Advantech Capital, with participation from Qiming Venture Partners, Northern Light Venture Capital (NLVC), and Cowin Venture.

Its $20-million Series A round was led by Qiming Venture Partners in January 2017, following a $5-million Series Pre-A round from Cowin Venture, Anlongmed Fund, and XinYue Equity.

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.

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.