Singapore, 5 December 2019
Bioscience, an innovative biotherapeutics company pioneering the discovery and
development of new breakthrough precision antibody therapeutics for
difficult-to-treat conditions, today announced that it has raised US$19 million
in a Series B financing round.
The financing was co-led
by Mirae Asset Venture Investment and GNTech Venture Capital. Existing
investors, Heritas Capital and Seeds Capital, as well as new investors, Delian
Capital; Mirae Asset Capital; DA Value-GiltEdge; HB Investment; Wooshin Venture
Investment; and Kiwoom Investment-Shinhan Capital also participated in the
Proceeds from the
financing will support the discovery of new disease targets, expanding Hummingbird
Bioscience’s pipeline of first and best-in-class antibody therapeutics, as well
as fueling the work on the co-discovery projects that are part of the
multi-target collaboration agreement signed with Amgen in September this year. Current
lead portfolio assets, HMBD-001 and HMBD-002, are expected to enter
first-in-human clinical trials following regulatory submissions in the second
half of 2020.
“With our world-class team of
cancer systems biology experts, multiple -omics and data science technologies,
Hummingbird Bioscience is at the cutting-edge of scientific discovery. The
support from our strategic investors is a strong endorsement of our translational
science and transformative vision for the future of drug development,” said Dr Piers Ingram, Chief Executive
Officer and co-founder, Hummingbird Bioscience.
platform is able to accurately identify previously intractable targets,
enabling us to engineer antibodies that precisely hit these difficult targets.
This validated approach is demonstrated by our two lead candidates, which are
progressing towards clinical trials in partnership with, and with support
from world-renowned institutions such as Cancer Research UK and Cancer
Prevention Research Institute of Texas. We will continue to execute on rapidly building our
pipeline of potential medicines across different disease modalities, to help treat
and inspire hope for people living with cancer and other conditions,” he said.
Joon Kim, Managing Director at Mirae Asset Venture Investment, commented:
“Hummingbird Bioscience has invented a differentiated rational antibody
discovery platform that designs and generates candidate therapeutic antibodies
against difficult yet desirable targets. We are optimistic about the company’s
potential to create breakthrough therapies that impact the lives of patients
living with serious illnesses. We are delighted to work with Hummingbird
Bioscience’s proven management team and investor syndicates.”
To date, Hummingbird
Bioscience has secured more than US$60 million in funding through financing
activities and strategic partnerships.
About Hummingbird Bioscience
Bioscience is an innovative biotherapeutics company pioneering the discovery
and development of new breakthrough precision antibody therapies for
difficult-to-treat conditions. Leveraging its proprietary rational antibody
discovery platform and deep experience in systems biology, Hummingbird Bioscience
is able to accurately identify novel disease targets enabling it to engineer
and generate antibodies to precisely hit these difficult targets. The company is
developing a broad pipeline of first and best-in-class drug candidates across
multiple indications, including: HMBD-001, an anti-HER3 antibody, and HMBD-002,
an anti-VISTA antibody, for the treatment of cancer. Hummingbird Bioscience has
established strategic collaborations with Cancer Research UK and Amgen, and has
been awarded a product development grant from the Cancer Prevention and
Research Institute of Texas.
is located in Singapore, Houston, Texas and South San Francisco, California. To
learn more about its science, pipeline assets, and team, please visit: www.hummingbirdbioscience.com or follow the company on LinkedIn and Twitter at @Hummingbirdbio.