Singapore-based clinical-stage biotech firm Hummingbird Bioscience has introduced the shut of its US$125 million Sequence C financing spherical, led by Novo Holdings.
The spherical additionally noticed participation from new traders together with Frazier Healthcare Companions, Octagon Capital, EDBI, AMGEN Ventures, DROIA Ventures, Morningside Ventures, Pureos Bioventures, Polaris Companions, Affinity Asset Advisors, Ally Bridge Group and Altrium Capital Administration.
Present traders together with SK Inc, Heritas Capital, and Mirae Asset Enterprise Capital additionally joined the spherical.
The corporate will use the funds to advance the medical improvement of its belongings together with HMBD-001, a HER3 antibody for NRG1-fusion and HER3-driven tumours, and HMBD-002, an anti-VISTA neutralising antibody for superior stable tumours.
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The funds will even be used to develop the capabilities of Hummingbird’s proprietary Rational Antibody Discovery platform (RAD) and progress the event of its next-generation pipeline of precision therapeutics, together with HMBD-009, a BCMA-TACI dual-specific T cell engager.
“These new funds give us additional assets to put money into our early-stage pipeline, in addition to supporting the medical improvement of our two lead programmes that we consider can ship very significant profit for sufferers,” mentioned co-founder and CEO Piers Ingram.
“We consider that Hummingbird’s novel data-driven, techniques biology method brings new precision to the sector of antibody drug discovery and improvement,” mentioned Kenneth Harrison, Accomplice at Novo Ventures.
“There’s vital potential for novel antibody-based therapeutics and thru Hummingbird’s RAD platform, we are able to now uncover excessive worth antibodies for difficult targets. We sit up for persevering with our partnership with Hummingbird to resolve advanced challenges in antibody improvement, and ship extremely differentiated therapies to sufferers in want,” Kiel Kim mentioned
Hummingbird Bioscience is concentrated on growing precision therapies towards hard-to-drug targets to enhance remedy outcomes. It harnesses the most recent advances in techniques biology and information science to higher perceive and clear up the underlying causes of illness and information improvement of our therapeutics.
Enabled by its RAD platform, it discovers and engineers precision therapies towards optimum but elusive epitopes that haven’t been efficiently drugged, unlocking novel mechanisms of motion.
In Could 2020, Hummingbird closed its prolonged Sequence B spherical at US$25 million.
Harrison, together with Dan Estes (Basic Accomplice at Frazier Healthcare Companions) and Kiel Kim (VP, SK Inc.) will be a part of Hummingbird’s board of administrators.
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Picture Credit score: Hummingbird Bioscience
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