PERTH, Australia – Private Chinese investors have launched a new AU$45 million (US$31.17 million) investment fund to accelerate the development and commercialization of new biotechnology from South Australia for the global market. The Adelaide China Biotech Investment Fund is backed by a group of private investors based in Nanjing, China, underwritten by the Bank of Nanjing.
HONG KONG - With a corporate valuation of $1.04 billion, the South Korean biosimilar company Aprogen Inc. has become the country’s first biotech “unicorn,” according to U.S. market research firm CB Insights. Korea now ranks fifth, tied with Germany, in terms of the number of unicorns, with total of 11 unicorns, a term used to describe private ventures with $1 billion-plus valuations.
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.
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