Hummingbird Bioscience, a Singapore, Houston, Texas and South San Francisco, California-based biotherapeutics company, raised US$19m in Series B financing.
The round was co-led by Mirae Asset Venture Investment and GNTech Venture Capital, with participation from existing investors Heritas Capital and Seeds Capital, as well as new investors, Delian Capital; Mirae Asset Capital; DAValue-GiltEdge; HB Investment; Wooshin Venture Investment; and Kiwoom Investment-Shinhan Capital.
The company intends to use the funds for the discovery of new disease targets, expanding its pipeline of antibody therapeutics, as well as accelerating the work on the co-discovery projects that are part of the multi-target collaboration agreement signed with Amgen in September this year.
Current lead portfolio assets, HMBD-001 and HMBD-002, are expected to enter first-in-human clinical trials following regulatory submissions in the second half of 2020.
Led by Dr. Piers Ingram, Chief Executive Officer and co-founder, Hummingbird Bioscience is a biotherapeutics company pioneering the discovery and development of new breakthrough precision antibody therapeutics for difficult-to-treat conditions. Leveraging its proprietary rational antibody discovery platform and deep experience in systems biology, the company can accurately identify novel disease targets enabling it to engineer and generate antibodies to precisely hit these difficult targets.
Hummingbird Bioscience is developing a broad pipeline of first and best-in-class drug candidates across multiple indications, including: HMBD-001, an anti-HER3 antibody, and HMBD-002, an anti-VISTA antibody, for the treatment of cancer.
The company has established strategic collaborations with Cancer Research UK and Amgen.