Qiming-backed biopharma firm Antengene raises $120m Series B round

Qiming Venture Partners-backed clinical-stage biopharmaceutical company Antengene Corporation has raised a $120-million Series B financing round led by Boyu Capital and FountainVest.

US-based Celgene Corporation, WuXi Corporate Venture Fund, financial services group Taikang and existing investors Qiming Venture Partners and TF Capital also participated in the round.

Antengene had raised a $21-million Series A round in 2017 led by Qiming Venture Partners.

The China-headquartered firm focuses on the development and commercialisation of novel therapeutics for diseases with high unmet medical needs in China and the Asia-Pacific region.

Antengene said the fresh funding will be primarily used for the continuing development of the company’s selinexor and inhibitor projects and other clinical-stage assets, to expand its pipeline through internal R&D and external partnerships, and to prepare the commercial launch of late-stage drug candidates.

A nearly 170,000-square feet manufacturing and research facility in Shaoxing, China, is currently under construction for GMP manufacturing and will provide both the clinical and commercial drug supply for the company’s pipeline products.

Boyu Capital, the lead investor of the transaction, has previously backed other Chinese biopharmaceutical firms such as Curon Biopharma and Brii Biosciences.

“We view in-licensing of first-in-class/best-in-class drug candidates as an effective solution to the unmet clinical needs in China. In addition, we are very impressed with the progress that Antengene is making and the pipeline they are building,” commented Yanling Cao, managing director of the Hong Kong-based private equity firm.

Zhen Li, managing director of FountainVest, added: “In the coming decade, China will rapidly fill the gap in healthcare compared to Western countries. This trend will continuously bring opportunities to innovative biopharmaceutical companies such as Antengene. But it also requires patient capital and financial investor with strategic angle. That’s how FountainVest position ourselves.”

Also Read:

Sequoia, Yunfeng back $260m round in healthcare startup Brii Biosciences

Singapore’s GIC leads $260m Series B round in Chinese biopharma firm CStone

China’s Wuxi Healthcare Ventures leads $55m Series A in US-based LifeMine Therapeutics

Temasek backs $150m Series A in Chinese startup Curon Biopharma

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.