HMCapital co-leads $56m Series B in US pharma firm OncoImmune

OncoImmune, Inc., a US-based innovative pharmaceutical firm announced on Thursday that it has garnered $50 million in a Series B round led by HM Capital and an undisclosed blue-chip investor.

New investors GBA Fund and GF Xinde — the PE arm of Hong Kong- and Shenzhen-listed GF Securities, which manages over 30 billion yuan ($4.4 billion) in assets — also participated. Returning backers included China-US healthcare-focused investment firm 3E Bioventures Capital, and Hangzhou-headquartered Kaitai Capital, OncoImmune said on its official website.

The latest proceeds will be used for late-stage clinical trials of therapeutic programmes, and product pipeline advancement. 3E Bioventures Capital had led a $15 million Series A round in OncoImmune in 2017.

OncoImmune, co-founded by Dr. Ming You and Pan Zhang in 2000 in Maryland, US, is a clinical-stage biopharmaceutical firm with expertise in therapies for cancer and autoimmune diseases. Its flagship product, CD24Fc, is used in treating tissue injuries and other treatments such as autoimmune diseases, metabolic syndromes, and also COVID-19.

Recently, OncoImmune conducted COVID-19 trials in US patients, and phase III trials have been initiated in 17 medical centers seeking to enroll over 270 patients, it said.  

It set up a research center in Southeast China’s Guangzhou city in 2018 in a bid to extend its discovery and development of innovative drugs. According to a press release on August 10, China’s National Medical Products Administration has approved its clinical trial application for a new generation antibody reagent. 

“We are delighted to see the significant progress OncoImmune has made in the past few years. It exemplifies how great scientific discovery can be turned into potential novel therapeutics benefiting patients,” said Dr. Karen Liu, partner at 3E Bioventures Capital.

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.