Series B Total at USD 120 Just Announced by Antengene Corporation
Antengene Corporation just announced its series B funding total at USD 120d million on the second day of 2019. The funding is co-led by Boyu Capital and Fountain Investment and will be used in developing oncology drug R&D platform.
Antengene Corporation(德琪医药, Antengene) just announced its series B funding total at USD 120 million on the second day of 2019. The funding was jointly led by Boyu Capital (博裕资本) and FountainInvest (方源资本) and followed by Celgene Corporation (新基), WuXi Corporate Venture Fund, Taikang, Qiming Venture Partners and TF Capital. will be used in developing oncology drug R&D platform. Atengene’s last funding series was closed in July 2017 total at USD 21 million, which was led by Qiming Ventures.
Founded in June 2016, Antengene is a pharmaceutical enterprise concentrating on novel oncological therapeutics R&D, production and distribution. According to Antengene’s public information, its current pipeline includes five clinical stage products, and in which, the ATG-010 (Selinexor) is a first-in-class Selective Inhibitor of Nuclear Export (SINE) compound in late clinical development for the treatment of multiple hematological malignancies and solid tumors. ATG-008 is a second generation TORC1/2 inhibitor for the treatment of hepatitis B virus positive (HBV+) hepatocellular carcinoma. Besides the above two products, Antengene has other ongoing oncological therapeutics programs under phase I & II phases.
Regarding the State Council of the PRC published Medium- to Long-term Plan (2017-2025) on the Prevention and Treatment of Chronic Diseases(referred as the Plan), the five-year cancer survival rate at 2017 was 30.9% and to recognize Healthy China 2030 blueprint, the Plan set goals in improving citizens’ health quality and one of the improvement indexes, five-year cancer survival rate is expected to be improved by 5% in 2020 and 10% in 2022. To achieve the expectation, the novel oncological therapeutics market will be enlarged to satisfy the mass need.
China’s domestic innovative first-in-class and best-in-class drugs take a small portion of the entire national drug market, so there is plenty of space to be filled and improved. In the next one to two decades, the change in pharmaceutical market structure and favored policies will bring great opportunities for pharmaceutical industry. As the pharmaceutical industry annual review published by EqualOcean, new policies and new HKSE IPO rules were issued to give more incentives for pharmaceutical industry to initiate, continue and complete novel drug programs.