HONG KONG – Singapore and U.S.-based Hummingbird Bioscience Pte Ltd. has raised $19 million in a series B financing round. Proceeds will be used to support the discovery of new disease targets and to fuel the work of co-discovery projects that are part of a multitarget collaboration agreement valued at more than $1 billion signed with Amgen Inc. in September.
BEIJING – Suzhou-based Alphamab Oncology Co. Ltd. (HK:9966), which aims to bring the first PD-L1/CTLA4 bispecific antibody to China, saw its share prices jump almost 30% on its debut on the Hong Kong Stock Exchange (HKEX) on Dec. 12, 2019, ending the year on a positive note for the pre-revenue biotech.
New commitments by investors in Boston-based Omega Funds have put the firm on track to deploy $438 million into new and existing life sciences companies during what Managing Director Otello Stampacchia called "the most exciting time to be investing in life sciences in a generation." The final close adds to what's becoming a busy season for fund rollouts, punctuated so far this month by announcements of closing for a new series A-focused $210 million fund from Perceptive Advisors and a new $115 million med-tech-focused fund from Israel's Peregrine Ventures.
LONDON – Biotech billionaire Bob Duggan is taking a majority stake in Summit Therapeutics plc, as part of a proposed subscription and placing to raise $50 million. The scheme has to be voted through by shareholders, but assuming it is approved, Duggan will control approximately 73% of Summit’s enlarged share capital. Duggan previously invested $25 million in the company at the start of 2019, and already holds 49% of the stock.