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.”