Chinese investors push Kymab backing to $100 million
pharmafile | November 28, 2016 | News story | Sales and Marketing |Â Â Bill & Melina Gates Foundation, China, kymabÂ
Kymab, the UK-based antibody biopharmaceutical group, announced that it has secured $100 million in funding. The company raised the funds via their Series C financing, coming after previous investment from the likes of the Bill & Melina Gates Foundation and Wellcome Trust. The company had raised funds of $120 million through Series A and B financings.
The latest round of fund raising saw Chinese drugmakers get involved, with Shenzhen Hepalink Pharmaceutical investing $36.5 million alone. ORI Healthcare Fund a Chinese-sector focused fund launched by a former Goldman Sachs investment banker also invested. This reflects a growing interest from Chinese firms in biotechnology investing opportunities.
“We are delighted to welcome new investors ORI Fund and Hepalink and would like to thank our existing investors for their continued support in our goal of building Kymab into a sustainable global biopharmaceutical company with a pipeline of products in four main therapeutic areas: immuno-oncology, auto-immunity, haematology and infectious disease,” says Dave Chiswell, CEO of Kymab.
He continued, “ORI Fund and Hepalink bring deep experience of the pharmaceutical industry. Hepalink has a global reach for their products and have biologics manufacturing capability in the US. This investment will help us maximise the potential of the Kymab pipeline as we develop and commercialise monoclonal antibody medicines for patients world-wide.”
Kymab is currently using its Kymouse transgenic human antibody platform to both discover and develop fully human monoclonal antibody drugs. The company is able to use the antibody library constructed by Kymouse to select and develop antibodies that have the potential to be used as treatments. Kymab states that it hopes to bring an antibody to clinical development in 2017.
Ben Hargreaves
Related Content
CARBOGEN AMCIS manufacturing license advances services in China
Swiss pharma manufacturing company, CARBOGEN AMCIS, has announced that its facility in Shanghai, China, has …
NDA in China receives priority review status for lung cancer treatment
HUTCHMED have announced that the China National Medical Products Administration (NMPA) have granted a priority …
China’s NMPA accepts Everest Medicines’ Nefecon supplementary application
Everest Medicines has announced that China’s National Medical Products Administration (NMPA) has accepted the submission …
