Chinese biopharmaceutical startups are winning the favor of foreign investors.
Image credit: EqualOcean
Antengene Corporation, a Zhejiang-based biopharmaceutical dedicated to developing new drugs, has announced the closure of a Series C fundraising at an amount of USD 97 million.
The US capital Fidelity Management & Research Company LLC led the investment, in cooperation with high-value investors such as Hillhouse VC and GIC (known as Government of Singapore Investment Corporation) and other serial investors, including Qiming Venture Partners and Boyu Capital.
Founded in 2016 by Doctor Jay Mei, Antengene has been developing medicines and cooperating with overseas biotech research institutes. With this capital injection, the company plans to cement the existing R&D pipelines for hematologic tumors and solid tumors.
With a vision that will see it serving markets in Asia Pacific regions, the startup has been building stable connections, both inbound and outbound. As early as April 2017, Celgene, the world-class innovative drug developer, became Antengene’s founding partner and investor. Now it has brought the research into ten ongoing cross-regional clinical trials, including six clinical-stage products.
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