Financings

Financings for Dec. 17, 2019

December 17, 2019

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Biopharmas in Asia-Pacific raising money in public or private financings.

Aprogen listed as South Korea’s first biotech unicorn

December 17, 2019

By Jihyun Kim

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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. The U.S has a total of 210 unicorns, followed by China with 102, the U.K. with 22 and India with 18.

Bispecific antibody specialist Alphamab raises $234M on HKEX

December 17, 2019

By Elise Mak

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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.

Chinese investors launch new AU$45M fund to develop South Australian biotech

December 17, 2019

By Tamra Sami

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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.

Hummingbird Bioscience scores $19M in series B financing

December 17, 2019

By David Ho

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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 an agreement valued with Amgen Inc.

China’s Clover completes $43M series B

December 10, 2019

By Elise Mak

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BEIJING – Chengdu-based Sichuan Clover Biopharmaceuticals Inc. closed a series B financing round to inject another $43 million into its drug development and manufacturing operations, with a focus on biologic candidate SCB-313, developed with its Trimer-Tag technology platform.

Emphasizing synergy and efficiency, EOC Pharma raises $71M series C to fight breast, gastric cancers

December 10, 2019

By Elise Mak

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BEIJING – EOC Pharmaceutical Group, of Shanghai, completed a series C financing round, bagging $71 million to advance its lead programs EOC-103 and EOC-315 for breast and gastric cancers. The round was led by Hangzhou Tigermed Consulting Co. Ltd. and its affiliated funds, TF Capital and Yingke PE.

Financings for Dec. 10, 2019

December 10, 2019

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Biopharmas in Asia-Pacific raising money in public or private financings.

Australia’s Opthea raises AU$50M to advance OPT-302 to phase III in wet AMD

December 3, 2019

By Tamra Sami

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PERTH, Australia – On the heels of positive phase IIb data, Opthea Ltd. announced a private placement of AU$50 million (US$33.87 million) from institutional investors in Australia and the U.K. to advance lead candidate OPT-302 to phase III trials in wet AMD.