Chinese biopharma Antengene Corporation has completed a $120 million Series B financing.
The financing was jointly led by Boyu Capital and FountainVest, with participation from Celgene Corporation, WuXi Corporate Venture Fund, and Taikang.
Previous investors Qiming Venture Partners and TF Capital also participated in this round.
This new round follows a $21 million Series A financing in 2017, led by Qiming Venture Partners.
Proceeds will be primarily used to fund the continuing development of the company’s lead programmes ATG-008 and ATG-010 (selinexor) and other clinical-stage assets, to expand the company’s pipeline through internal R&D and external partnerships, and to prepare the commercial launch of late-stage drug candidates.
A 169,984 square feet manufacturing and research facility in Shaoxing, China, currently undergoing construction for GMP manufacturing, will provide both the clinical and commercial drug supply for the company’s pipeline products.
ATG-010 (selinexor) is a first-in-class Selective Inhibitor of Nuclear Export (SINE) compound in late clinical development for the treatment of multiple haematological malignancies and solid tumours, including multiple myeloma, diffuse large B-cell lymphoma, liposarcoma, etc.
ATG-008 is a second generation TORC1/2 inhibitor currently in late stage development for the treatment of hepatitis B virus positive (HBV+) hepatocellular carcinoma. This program has also been selected as a ‘Key Project for Novel Drug Development in China’.