- Funding spherical led by Novo Holdings, joined by a syndicate of worldwide biotech buyers
- Proceeds will assist development of Hummingbird’s lead belongings in medical trials and constructing of its next-generation portfolio of precision therapeutics
- Kenneth Harrison from Novo Ventures (an affiliate of Novo Holdings) and Dan Estes from Frazier Healthcare Companions to be a part of Board of Administrators
SINGAPORE, Could 17, 2021 /PRNewswire/ — Hummingbird Bioscience, an modern clinical-stage biotech firm centered on creating precision therapies towards hard-to-drug targets to enhance therapy outcomes, as we speak introduced the shut of its US$125 million Collection C financing spherical. The financing was led by Novo Holdings, with vital participation from new buyers 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. Current buyers together with SK Inc, Heritas Capital, and Mirae Asset Enterprise Capital additionally joined the spherical.
“We’re delighted to have the assist and confidence of main world healthcare buyers to advance the event of our distinctive pipeline of precision therapies towards vital, but hard-to-drug targets. Now we have made great progress since closing our Collection B in 2019 and this financing displays robust assist for our platform, folks, and growth technique,” stated Piers Ingram, Chief Government Officer and co-founder, Hummingbird Bioscience. “With our world-class staff of researchers and proprietary applied sciences, Hummingbird is on the cutting-edge of scientific discovery. These new funds give us additional sources to spend money on our early stage pipeline, in addition to supporting the medical growth of our two lead packages that we imagine can ship very significant profit for sufferers.”
Proceeds from the financing can be used to advance the medical growth of Hummingbird’s lead belongings together with HMBD-001, a best-in-class HER3 antibody for NRG1-fusion and HER3-driven tumors, and HMBD-002, a first-in-class anti-VISTA neutralizing antibody for superior strong tumors. The funds will even be used to increase the capabilities of Hummingbird’s proprietary Rational Antibody Discovery platform and progress the event of its next-generation pipeline of precision therapeutics together with HMBD-009, a BCMA-TACI dual-specific T cell engager.
“We’re delighted to steer this financing in Hummingbird and happy to have attracted a syndicate of subtle buyers to allow the acceleration of the corporate’s medical growth actions. We imagine that Hummingbird’s novel data-driven, techniques biology method brings new precision to the sphere of antibody drug discovery and growth, and we’re proud to assist the staff in realizing their imaginative and prescient,” stated Kenneth Harrison, Companion, Novo Ventures.
Kenneth Harrison together with Dan Estes, Basic Companion, Frazier Healthcare Companions, and Kiel Kim, Vice President, SK Inc., will be a part of Hummingbird’s board of administrators.
“Hummingbird is at an thrilling level, on the cusp of beginning medical research for each HMBD-001 and HMBD-002. I sit up for working with the Hummingbird staff in creating and constructing out its portfolio of drug candidates which have transformative potential for sufferers with most cancers and autoimmune illnesses,” stated Dan Estes.
Kiel Kim stated: “There’s vital potential for novel antibody-based therapeutics and thru Hummingbird’s Rational Antibody Discovery platform, we will now uncover excessive worth antibodies for difficult targets. We sit up for persevering with our partnership with Hummingbird to resolve advanced challenges in antibody growth, and ship extremely differentiated therapies to sufferers in want.”
About Hummingbird Bioscience
Hummingbird Bioscience is an modern clinical-stage biotech firm centered on creating precision therapies towards hard-to-drug targets to enhance therapy outcomes. We harness the newest advances in techniques biology and information science to higher perceive and clear up the underlying causes of illness and information growth of our therapeutics.
Enabled by our proprietary Rational Antibody Discovery platform, we uncover and engineer precision therapies towards optimum but elusive epitopes that haven’t been efficiently drugged, unlocking novel mechanisms of motion. We’re advancing a wealthy pipeline of first- and best-in-class precision therapies in oncology and autoimmunity, in collaboration with world companions in academia and trade.
Our extremely skilled, multidisciplinary groups in Singapore and the US span antibody discovery, pharmacology, manufacturing, information science and medical growth. Collectively we purpose to speed up the journey of recent medicine from idea to medical care.
About Amgen Ventures
Established in 2004 as Amgen’s company enterprise capital fund, Amgen Ventures identifies and invests in rising corporations and applied sciences to advance promising new medicines and options to healthcare’s largest challenges. Globally, Amgen Ventures has strategically invested in human therapeutics and drug discovery efforts that go beyond-the-molecule, resembling digital well being platforms, information analytics, and value-based approaches.
Be taught extra at www.amgenbd.com
About DROIA Ventures
Droia is a specialist biotech investor with an unique deal with therapeutics for oncology and genetic illness. Droia invests globally in newly based or early-stage platform corporations that apply novel science and modern applied sciences to carry first-in-class drug candidates to sufferers. With our staff of seasoned scientists, entrepreneurs and funding professionals we construct nice corporations to avoid wasting affected person lives. Extra data at www.droiaventures.com.
Investing since 1991, EDBI is a Singapore-based world investor in choose excessive development expertise sectors starting from Data & Communication Know-how (ICT), Rising Know-how (ET), Healthcare (HC) and promising Singapore SMEs in strategic industries. As a worth creating investor, EDBI assists corporations obtain their bold targets by leveraging our broad community, sources and experience. With our development capital, EDBI helps corporations looking for to increase in Asia and globally by way of Singapore. For extra data, go to https://www.edbi.com.
About Frazier Healthcare Companions
Based in 1991, Frazier Healthcare Companions is a number one supplier of development and enterprise capital to healthcare corporations. With practically $4.8 billion whole capital raised (as of 2020), Frazier has invested in over 200 corporations, with funding varieties starting from firm creation and enterprise capital to publicly traded corporations and buyouts of worthwhile lower-middle market corporations. The Frazier Life Sciences staff invests primarily in non-public and publicly traded therapeutics-focused corporations creating and commercializing modern biopharmaceuticals that deal with vital unmet medical wants and has seeded or created 24 biopharmaceutical corporations since 2005. The Frazier Life Sciences staff is headquartered in Menlo Park, CA, and invests globally.
For extra details about Frazier Healthcare Companions, go to the corporate’s web site at http://www.frazierhealthcare.com.
About Morningside Ventures
Morningside Ventures was based in 1986 by the Chan Household of Hong Kong. Since its institution, Morningside has been specializing in tendencies of the forefront life science and healthcare industries over the world, spreading its enterprise scope and funding footprint over North America, Europe and Higher China. Morningside contains a bunch of funding professionals who’re entrepreneurial, have deep trade data and profound expertise in enterprise capital administration. For extra data, please go to http://www.morningside.com
About Novo Holdings
Novo Holdings is acknowledged as a world-leading life science investor with a deal with creating long-term worth. As a life sciences investor, Novo Holdings gives seed and enterprise capital to development-stage corporations and takes vital possession positions in development and well-established corporations. Novo Holdings additionally manages a broad portfolio of diversified monetary belongings. For extra data: https://www.novoholdings.dk/
Novo Ventures is a worldwide staff of funding professionals that helps Novo Holdings’ investments in non-public and public alternatives within the life sciences trade. For extra data: https://www.novoholdings.dk/investments/ventures/; https://www.novoholdings.dk/wp-content/uploads/Novo-Ventures-2020-in-review.pdf.
About Octagon Capital
Based in 2019, Octagon Capital Advisors LP is a multi-stage funding supervisor devoted to evidence-based investing in private and non-private healthcare corporations, particularly in the USA and China. Octagon Capital strives to construct concentrated, long-term investments and work with our portfolio administration groups as companions. Octagon Capital manages capital on behalf of worldwide establishments resembling college endowments, non-profit foundations, household places of work, pension funds and established asset managers.
About Polaris Companions
Polaris Companions has a 20-plus-year historical past of partnering with repeat entrepreneurs and world-class innovators who’re bettering the way in which we dwell and work. The multibillion-dollar agency manages specialty and diversified funds in healthcare and expertise with investments throughout all levels. Polaris has places of work in Boston, San Francisco, and New York. Be taught extra at polarispartners.com.
About Pureos Bioventures
Pureos Bioventures is a newly shaped enterprise capital fund, suggested by Bellevue Asset Administration. Pureos invests completely in non-public modern drug growth corporations, with a particular emphasis on the following era of organic medicine and drug codecs. The fund’s portfolio corporations are constructed on scientific excellence to develop therapies throughout a broad indication spectrum together with oncology, immunology, ophthalmology, uncommon illnesses and neuroscience. With its devoted and skilled staff of enterprise capitalists, biotech entrepreneurs and drug builders, Pureos strives to influence sufferers’ lives by advancing modern remedies for extreme illnesses.
For extra data go to www.pureosbio.com
About SK Inc.
Based mostly in Seoul, South Korea, SK Inc. enhances its portfolio values by creating long-term methods with globally aggressive associates in power and chemical compounds, ICT, semiconductor and supplies, logistics and companies, and bio and prescribed drugs. As an investment-oriented holding firm of SK Group, the corporate is targeted on maximizing company worth and constructing the muse for sustainable development by figuring out and nurturing promising new companies. For extra data on SK Inc., please go to http://www.sk-inc.com/en/
SOURCE Hummingbird Bioscience