SHANGHAI & ROTTERDAM, The Netherlands & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Harbour BioMed announced today that it has completed a Series B round financing of $85 million to accelerate the growth of its innovative therapeutic pipeline, including both clinical and discovery stage programs. 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.
“During the one and half years since we established operations, Harbour has successfully expanded its network of collaborations for its core transgenic mouse technologies, rapidly built an innovative pipeline through internal discovery and in-licensed development stage programs in the areas of oncology and immunology, and established an experienced and professional team,” said Dr. Jingsong Wang, the Founder, Chairman and CEO of Harbour BioMed. “The financing is a very strong vote of confidence by our new and existing investors in our vision for the company, strategy, progress to date and our team. With their continued support, we will accelerate the growth and advancement of our pipeline through both internal innovation and external collaboration.”
Harbour BioMed was established in December 2016 around a Series A round of $50 million 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.
About Harbour BioMed
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. The company 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. For more information, visit www.harbourbiomed.com.
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,500 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.