HONG KONG – Beijing Stonewise Technology Co. Ltd., a med-tech firm that uses artificial intelligence (AI) to aid in the discovery of small molecule drugs, closed series B and B+ financing rounds that added $100 million to its pocket. The company intends to use the proceeds to upgrade its AI-enabled drug discovery platform.
The newly renamed Hutchmed (China) Ltd., previously known as Hutchison China Meditech Ltd. (Chi-Med), plans to sell $100 million of its American depository shares at $30.50 per ADS in a private placement to funds affiliated with Baring Private Equity Asia.
HONG KONG – Onquality Pharmaceuticals LLC raised an additional $20 million from a series A+ financing round, bringing its amount of capital raised to $35 million.
Biopharmas in Asia-Pacific raising money in public or private financings, including: ACM, Bionomics, Delta 4, Humanigen, Hutchison China Meditech, Icosavax.
Qihan Biotechology Co. Ltd., a company known for its multiplexable genome editing technology, has yet again extended its series A financing, this time with a $67 million round that will support advancement of its allogeneic cell therapy candidates to IND in China. To date the company has raised more than $100 million.
HONG KONG – Bispecific antibody startup Epimab Biotherapeutics Inc. has completed a $120 million series C financing, bringing it closer to a potential IPO next year. The Shanghai-based company said the new funds would help it move EMB-01 into phase II testing this year.
While historical data suggest venture capital rounds will eventually dip below the peak years, biopharma financings completed in recent months indicate the dollars are continuing to climb in 2021. A maturing industry, the high potential of cell and gene therapy products, the advancing technologies of artificial intelligence and machine learning, as well as an eager financial community, are all responsible for the ever-increasing availability of private money.
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