HomeChinaHarbour BioMed Raises $75M in Series B+ Venture Capital Financing

Harbour BioMed Raises $75M in Series B+ Venture Capital Financing

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healthcare

Harbour BioMed, a Cambridge, MA- Rotterdam, The Netherlands and Suzhou, China-based global, clinical stage biopharmaceutical company, closed its $75m Series B+ round of financing.

Backers included new investors SK Holdings, Greater Bay Area Fund, Efung Capital, Zheshang Venture Capital and Zhejiang University Future Capital and JT New Century, which joined existing investors Legend Capital, AdvanTech and GIC Pvt. Ltd.

The company, which previously completed an $85m Series B financing in August 2018, intends to use the funds to accelerate the advancement of its clinical-stage compounds and portfolio of biotherapeutics for treating cancer and immunological diseases.

Led by Dr. Jingsong Wang, Founder, Chairman and CEO, Harbour BioMed is a global, clinical stage biopharmaceutical company developing innovative therapeutics in the fields of immuno-oncology and inflammatory diseases. The company is building its proprietary pipeline through internal R&D programs, collaborations with co-discovery and co-development partners and select acquisitions. Its internal discovery programs are centered around its two patented transgenic mouse platforms (Harbour Mice®) for generating both fully human monoclonal antibodies and heavy chain only antibodies (HCAb) and HBICE™ immune cell engager technology for developing bispecific antibodies. Harbour BioMed also licenses the platforms to companies and academic institutions.

The company recently reported on major progress in its clinical development programs, including:

  • Start of Phase 1 clinical studies with HBM4003 for the treatment of advanced solid tumors. HBM4003, a next generation anti-CTLA 4 therapeutic, is the first fully human antibody based on HBM’s heavy chain only (HCAb) antibody discovery technology. The trial, underway in Australia, is the first in an international development program that will inaugurate trials in the US, EU and China. HBM recently received IND approval from the FDA to initiate its trial in the US. HBM4003 has shown potential in preclinical studies for increased anti-tumor activity based on enhanced antibody dependent cell toxicity mediated Treg depletion and a favorable safety profile.
  • Start of Phase 2/3 clinical trials of HBM 9161, an anti-FcRn antibody, for the treatment of multiple severe, autoimmune diseases, including myasthenia gravis, adult immune thrombocytopenia, Graves’ ophthalmopathy and other related indications. Phase 2/3 studies for several of these indications are expected to begin in the first half of 2020 in Greater China.
  • Completion of a Phase 2 trial of HBM 9036 for Dry Eye Disease. HBM is preparing to start a Phase 3 registration trial in Q2 2020 in China.
  • Start of Phase 2 clinical program of HBM9167, its humanized IgG1 monoclonal antibody targeting programmed death-ligand 1 (PD-L1), for the treatment of nasopharyngeal cancer (NPC). The US FDA granted HBM9167 Orphan Drug Designation (ODD) for the development in treating NPC.

FinSMEs

12/03/2020