BeiGene, a Beijing, China-based oncology company, received $75m in funding.
Backers included initial angel and strategic investors and new investors Hillhouse Capital and CITIC Capital Partners, as well as an undisclosed blue chip U.S. public investment fund specializing in life sciences.
Led by John V. Oyler, CEO, BeiGene focuses on developing targeted and immune-oncology therapeutics. It is currently investigating three small molecule inhibitors in clinical development:
BGB-3111, an investigational, oral, highly selective and potent inhibitor of Bruton tyrosine kinase (BTK) entered a Phase 1 study in August 2014;
BGB-290, a PARP inhibitor, entered a Phase 1 study in July 2014; and
BGB-283, a second-generation B-RAF inhibitor, entered a Phase 1 study in November 2013.
The company is also pursuing additional preclinical programs, including a highly potent and potentially differentiated PD-1 monoclonal antibody candidate.