Antengene Corporation Closes US$97M in Partial Series C Financing

Funding will be used to enhance R&D capacity and strengthen existing infrastructure

Antengene Corporation, an innovative hematology and oncology-focused biopharmaceutical company, announced on July 20 that it had successfully closed US$97 million in Series C financing, to support ongoing drug development and preparations for potential commercialization. 

The financing was led by Fidelity Management & Research Company LLC with additional support from new investors including GL Ventures, GIC, and a large, reputable long-term investor. Existing investors including Qiming Venture Partners and Boyu Capital also participated in the funding. 

China- and U.S.-based Antengene’s activities include integrated drug discovery, clinical development, manufacturing and commercialization. Over the past 3 years, Antengene has developed 12 clinical and pre-clinical stage programs and obtained 7 IND approvals with 10 ongoing cross-regional clinical trials in the Asia Pacific region. 

With a vision of “Treating Patients Beyond Borders,” the company aspires to meet the unmet medical needs of patients in the Asia Pacific regions and around the world through research & development into top quality anti-cancer drugs and treatments. Antengene has partnerships with a number of bg players in the industry, including Celgene, Karyopharm Therapeutics and AstraZeneca. 

Proceeds from the Series C financing will mainly be used to fund the continuing clinical development of Antengene’s hematology and oncology therapies, enhancing in-house research and development capabilities and strengthening the commercial infrastructures in APAC markets. 

To date, Antengene has made significant progress with its broad pipeline of six clinical-stage programs and six pre-clinical stage oncology assets. The company has developed compounds which are now used in the treatment of a number of diseases, including myeloma, carcinoma, and other types of malignancies and cancers. 

In 2019, funding for healthtech innovators exceeded US$7.4 billion, and research shows that investors continue to invest significantly in this field. The health tech industry is particularly significant in China, where authorities are attempting to meet the healthcare demands of the population with their supply of medical resources. The global pandemic has further necessitated research and development in the field of health tech. 

Dr. Jay Mei, Founder, Chairman and CEO of Antengene says, “We appreciate the recognition and trust from these prestigious investment institutions. This round of financing has drawn support from among the world’s largest asset managers, top-tier healthcare investors widely recognized in the capital markets, and strong continuous support from our existing investors. This is an important milestone to reinforce Antengene’s capabilities to bring cutting-edge therapies to help patients with life-threatening diseases in the Asia Pacific regions and around the world.”

Header image courtesy of Louis Reed on Unsplash.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Top Three Weirdest Mobile Game Advertisements

Top Three Weirdest Mobile Game Advertisements

Whether on YouTube or Instagram, I’m sure you all must have seen at least one mobile game advertisement. One common trope with today’s mobile game advertisements is that they tend to mislead their audience.
You might have come across these weird ads while scrolling through social media: In the ad for the strategy game “Game of Sultans”, a sultan is fat-shaming his daughter; in the match-three puzzle game “Lily’s Garden” ad, women use washing machines as vibrators.

The Maximalist Fashion Trend Where Did It Come From and Where Is It Going

The Maximalist Fashion Trend: Where Did It Come From and Where Is It Going?

If you Google “maximalist fashion”, you will be swamped with dressing guides dedicated to this “the more, the better” trend published by leading fashion magazines in 2022. Rapidly gaining popularity in the last couple of years, maximalist styles are breaking out of the runway of an Haute Couture fashion show, a red carpet event or a K-pop performance to conquer streets in high fashion neighborhoods.

How Is Technology Influencing the Food and Beverage Industry

How Is Technology Influencing the Food and Beverages Industry?

Food waste, sustainability and animal cruelty are some of the biggest challenges facing the food and beverage (F&B) industry nowadays. Like any other sector, the industry is dipping its toe into technology and innovations to seek solutions. While we are already seeing more food tech solutions in our everyday lives, like plant-based meat alternatives and food waste management startups.

3 Innovations for a Cleaner Environment You Never Heard Of

3 Innovations for a Cleaner Environment You Never Heard Of

Innovation in clean energy, sustainable infrastructure and eco-friendly solutions to environmental hazards are the need of the hour. The burden on the world’s natural recourses is immense, and it is high time we focus on renewability and diversification. While we are only scratching the tip of the iceberg, here are three innovations working to create an environment-friendly future.