MUFG Capital joins Zurich-based Numab Therapeutics’ $22.6m Series B

Zurich-based biotech company Numab Therapeutics has snagged a total of $22.6 million in its Series B financing from a number of Asian investors as well as its board member, Dr. Daniel Vasella.

The investors include Chinese-listed biotech firm 3SBio’s subsidiary Sunshine Guojian, Japan’s Mitsubishi UFJ Capital and pharmaceutical company Eisai Co Ltd, Numab said in a statement on Monday.

Sunshine Guojian invested a sum of $15.2 million in the round, according to an earlier statement by the Swiss startup.

Meanwhile, existing shareholders in its Series A round also contributed to the current financing, Numab said without divulging details for its previous funding round.

Numab revealed that it will use the investment to broaden its proprietary pipeline and accelerate the development for a number of programmes towards the clinic.

It has generated a pipeline of multi-specific antibody drug candidates with its lead oncology programme ND021, for which a clinical trial will be initiated within 2020.

“Multi-specific antibodies have the potential to unlock entirely novel modes-of-action aiming at superior benefit-to-risk profiles relative to conventional cancer immune therapies,” Numab said. Its trademarked MATCH technology can incorporate up to six binding specificities, it added.

Numab and Sunshine Guojian in December 2019 formed a partnership focusing on the development and commercialization of a portfolio of novel multi-specific antibodies for the therapy of cancer.

Earlier in October 2019, Numab and Eisai also conducted global research and option agreement to discover and develop a portfolio of multi-specific antibody immunotherapies.

Meanwhile, with Mitsubishi UFJ Capital joining the investment, Numab will also leverage the Japanese investor’s experience in investing in the life science sector. The firm has backed 17 biotech businesses, 12 pharmaceutical and another 10 medical companies, according to Crunchbase.

Mitsubishi UFJ Capital operates two life science funds, each was raised at 10 billion yen ($98.7 million).

Other biotech-focused funds have been recently established to make investments in the Asia Pacific, including Wellington Management’s $393-million vehicle, TG Sino-Dragon Fund – a $62 million fund launched by Chinese contract research organization Hangzhou Tigermed Consulting and Singapore’s state investor Temasek Holdings, and Adelaide China Biotech Investment Fund.

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.