Harbour BioMed Raises $75 Million in Series B+ Round to Accelerate Its Innovative Pipeline

According to businesswire.com, Harbour BioMed ("HBM") announced successful completion of its Series B+ round financing of $75 million to accelerate the advancement of its clinical-stage compounds and growing portfolio of next-generation biotherapeutics for treating cancer and immunological diseases. New investors participating in the financing – SK Holdings, Greater Bay Area Fund, Efung Capital, Zheshang Venture Capital and Zhejiang University Future Capital and JT New Century - joined existing investors, including Legend Capital, AdvanTech and GIC Pvt. Ltd. The company previously completed an $85 million Series B financing in August 2018.

The funds from the Series B+ will help drive these programs towards key clinical and development milestones. This round of financing further underscores both the company's existing and new investors' confidence in HBM, and the team's ability to execute with conviction and commitment.

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.

The company's 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 has operations in Cambridge, Massachusetts; Rotterdam, The Netherlands; and Suzhou & Shanghai, China.

As Dr. Jingsong Wang, Founder, Chairman, and CEO of Harbour BioMed, said, they began international clinical studies with their first internally-discovered biotherapeutic, fully-human anti-CTLA-4 antibody (HBM4003) for the treatment of advanced solid tumors. In addition, The discovery platform HBICE^™ has rapidly generated a robust portfolio of fully human antibodies, including next-generation bi-and multi-specifics. More recently, the company has leveraged the power of its antibody discovery platform in select other areas such as in coronavirus disease (COVID-19).

EFUNG Investment is one of China's earliest institutions investing in professional biomedical industries. Over a decade of years, EFUNG Investment has been focusing on the medical and health industry, especially the VC and PE investment business of novel drugs and high-end medical devices.

Established in April 2001, Legend Capital is an independent professional Venture Capital firm under Legend Holdings. Legend Capital focuses on early-stage venture capital and expansion-stage growth capital investment. The company is now managing several USD funds and RMB funds with a total AUM of 45 billion yuan.