Fidelity leads $97m Series C round in Chinese biopharma Antengene

Laboratory equipment. Photo: Pixabay

Antengene Corporation, a Chinese biopharma firm that develops therapies in the haematology and oncology fields, announced on Monday that it has closed $97 million in a Series C round of financing.

The Series C round was led by US financial services firm Fidelity Management & Research Company, which has $8.1 trillion in assets under administration, according to a statement.

New investors in the round include GL Ventures, a venture capital affiliate of Asia-focused private equity major Hillhouse Capital, Singapore’s GIC, and an unnamed long-term investor. Existing investors Qiming Venture Partners and Boyu Capital also participated in the round.

“This is an important milestone to reinforce Antengene’s capabilities to bring cutting-edge therapies to help patients with life-threatening diseases in the Asia Pacific regions and around the world,” said Jay Mei, founder, chairman and CEO of Antengene, in the statement.

Founded in 2017, Antengene aims to deliver its innovative drugs and combination therapies to diseases with high unmet medical needs in China and the Asia-Pacific region.

The company has a pipeline of six clinical-stage programmes and six pre-clinical stage oncology assets, including ATG-010 (selinexor), an oral selective inhibitor of nuclear export (SINE) compound, second-generation dual mTORC1/2 inhibitor ATG-008 (onatasertib), and ATG-016 (eltanexor), also a second-generation oral selective inhibitor, among others.

Its drug discovery team is also focused on the research and pre-clinical development of innovative small molecules, monoclonal, and bi-specific antibodies for cancer treatment.

Proceeds from the investment will be primarily used to fund the continuing clinical development of Antengene’s pipeline of haematology and oncology therapies, expanding in-house R&D capabilities, and strengthening the company’s commercial infrastructures in the Asia Pacific market.

In January 2019, Antengene completed a $120-million Series B round led by Boyu Capital and Asian private equity firm FountainVest. New Jersey-based pharmaceutical firm Celgene Corporation, Hong Kong-listed WuXi AppTec’s Wuxi Corporate Venture Fund, Chinese insurance and financial service group Taikang, and other investors also invested in the previous round.

The company’s early-stage backer Qiming Venture Partners led its $21-million Series A round in 2017.

Singapore Reporter/s

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

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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.