EpimAb Biotherapeutics Completed $74 Million in Series B Financing

According to Yigoo News, On June 5, 2019, EpimAb Biotherapeutics just completed 74 million dollars in Series B Financing. This round of financing was led by SDIC and Sherpa Investment and followed by South China Venture Capital.

This round of financing would be used to advance its clinical phase ½ of EMB01 project and advance several products for tumor immunity and other urgently needed product to the clinical stage. At the same time, EpimAb Biotherapeutics would also use the funds to finish its production center in Suzhou.

EpimAb Biotherapeutics was founded back in 2015, the company focused on the research and development of new drugs using the bispecific antibody technology platform FIT-Ig®. EpimAb Biotherapeutics is developing products for the bispecific antibody series in areas of tumor immunity and other needs with high demands. Right now, The FIT-Ig® technology platform has been authorized by the USPTO, and the first product, EMB01, has entered clinical I/II trials in both China and the US.

"The completion of the Series B financing will accelerate the rapid transformation of the research and development results of the company's product pipelines, allowing us to further expand the scale of the company". Founder and CEO of EpimAb Biotherapeutics, Chenbing Wu said.

State Development & Investment Corporation is the largest state-owned investment holding company in China. It was established on 5 May 1995, and by the end of 2008, it had a workforce of more than 60,000 employees with registered capital of US$2.4 billion.

A newly founded investment company in China that mainly focuses in the field of health care.

SCVC was founded in March 2008, it's a private equity investment fund management company.