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 3 Cheapest Tesla Alternatives to Consider Buying

Top 3 Cheapest Tesla Alternatives to Consider Buying

Those who care about the environment have progressively shifted to electric cars. In December 2022, electric car sales reached 11% of the car market worldwide. These cars not only have significantly fewer carbon emissions but are also cheaper to maintain. Some countries, such as New Zealand, the U.K.

Workplace Bullies: How Do You Deal With Them

Workplace Bullies: How Do You Deal With Them

According to the 2021 U.S. Workplace Bullying survey, 30% of employees have direct experience being bullied at work. The typical office bully constantly puts you down, ignores your opinions and blames you for things you had nothing to do with. Some bullies are better at concealing their behaviors than others, and some might even gaslight you into thinking that you are making a big deal out of nothing. 

What Should Employees Do in a Crisis

What Should Employees Do in a Crisis?

At the start of January 2023, a drunk man in an Air India flight’s business class urinated over a 72-year-old woman sitting beside him. The man, Shankar Mishra, was the Vice President of the financial services company Wells Fargo (he was fired following the incident). In itself, the incident is disgusting.

Top 5 AI Companies in the World

Top 5 AI Companies in the World

Technological developments are driven by the human need to make life easier and complete tasks faster and more efficiently. The drastic growth of technology in recent years has paved the way for artificial intelligence (AI) to become an integral part of almost every industry—from education and lifestyle to music and sports. It is everywhere. And by the looks of it, it is here to stay.

3 High Demand Metaverse Jobs in Future That Your Kids Should Look into

3 High Demand Metaverse Jobs in Future That Your Kids Should Look into

It’s no wonder why Jumpstart Media named “metaverse” one of the top emerging trends and technologies to look forward to in 2023. With an expected compound annual growth rate (CAGR) of 39.4% from 2022 to 2030, Grand View Research forecasts that the global metaverse market is set to expand exponentially. From fashion shows, gaming, luxury products, sports and travel to art, many industries are tapping into the metaverse’s potential.

4 Most Anticipated Tech IPOs of 2023

4 Most Anticipated Tech IPOs of 2023

The technology industry has been a driving force in shaping the global economy for decades and the initial public offerings (IPOs) of technology companies are often highly-anticipated events. In 2022, the tech IPO market saw a slowdown compared to the previous year, 2021.