Harbour BioMed, a Shangai, China-based biopharmaceutical company that is developing therapeutics for oncology and immunological diseases, completed a Series B round financing of $85m.
GIC Private Limited, Singapore’s sovereign wealth fund, led the financing round, with participation from new investors, including China Life Private Equity Investment Company and Vertex Ventures, and Series A investors AdvanTech and Legend Capital.
The company intends to use the funds to accelerate the growth of its innovative therapeutic pipeline, including both clinical and discovery stage programs.
Led by Dr. Jingsong Wang, Founder, Chairman and CEO, Harbour BioMed is a global biopharmaceutical company discovering and developing innovative therapeutics for oncology and immunological diseases. The company’s discovery and development programs are built around its two patented transgenic mouse platforms for therapeutic antibody discovery. Iy is building its proprietary pipeline through its innovative internal discovery programs, and through in-licensing clinical stage assets that strategically fit its internal portfolio. Harbour BioMed also licenses the platforms to companies and academic institutions through its Harbour Antibodies subsidiary.
The company was established in December 2016 around a Series A round of $50m and the acquisition of the Netherlands-based fully human transgenic antibody technology company, Harbour Antibodies BV and its subsidiaries.
The company has integrated the Harbour Mice technologies into its newly built antibody technology and discovery biology, preclinical and clinical development operations, entered into multiple license and collaboration agreements for its Harbour Mice, and established an innovative therapeutic pipeline based on internal discovery and in licensing activities.
In early 2018 Harbour raised an A+ Round from CDH and AdvanTech to support its in-licensed clinical programs for Greater China. Harbour’s development programs include:
• An anti-FcRn based antibody against multiple autoimmune diseases, including myasthenia gravis and neuromyelitis optica, and a biologic against inflammatory dry-eye disease, among other potential indications. Harbour, which in-licensed these assets in 2017, is developing them for the Greater China market. Harbour recently filed two INDs for three different indications in China to conduct clinical trials with these assets.
• A CD3-based bi-specific antibody therapy against Her-2 overexpressed cancer in clinical development, acquired in August 2018, which Harbour is developing for the Greater China market.
• A clinical stage, anti-PD-L1 antibody for the treatment of multiple solid tumors and hematological cancers, acquired in August 2018, that Harbour is developing worldwide outside of China.