Antengene Nets $97M in Series C Financing

Antengene Corporation ("Antengene"), a leading innovative hematology and oncology-focused biopharmaceutical company dedicated to discovering, developing and commercializing global first-in-class and best-in-class therapies, today announced that it has successfully closed US$97 million in Series C financing.

The financing was led by Fidelity Management & Research Company LLC with additional support from new investors including GL Ventures (an affiliate of Hillhouse Capital), GIC, and a large, reputable long-term investor. Existing investors including Qiming Venture Partners and Boyu Capital also participated.

Antengene is a biopharmaceutical company with integrated drug discovery, clinical development, manufacturing and commercialization anchored in the Asia Pacific regions and with a global layout, aiming to provide the most advanced first-in-class/best-in-class anti-cancer drugs and other treatments for patients in China, the rest of Asia and around the world. 

In April 2017, Celgene (now officially acquired by Bristol-Myers Squibb, and become the world's top ten pharmaceutical company after the merger), a global leading innovative biopharmaceutical company became a founding partner and obtained an equity position as an investor in Antengene. Over the past 3 years, Antengene has built a product pipeline of 12 clinical and pre-clinical stage programs, obtained 7 IND approvals with 10 ongoing cross-regional clinical trials in the Asia Pacific regions.

Proceeds from the Series C financing will be primarily used to fund the continuing clinical development of Antengene's robust pipeline of hematology and oncology therapies, expanding in-house research and development capabilities and strengthening the commercial infrastructures in APAC markets. To date, Antengene has made significant progress with its broad pipeline of six clinical-stage programs and six pre-clinical stage oncology assets.

In addition, the Antengene drug discovery team is focused on the research and pre-clinical development of innovative small molecules, monoclonal and bi-specific antibodies to treat cancer. 

With assets under administration of $8.1 trillion, including discretionary assets of $3.3 trillion as of May 31, 2020, Fidelity focuses on meeting the unique needs of a diverse set of customers: helping more than 32 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 institutions with investment and technology solutions to invest their own clients' money. 

GL Ventures focuses on innovative companies in healthcare, software services, consumer Internet, emerging consumer brands and services. The company has been investing with innovators across the world since 2005. It was one of the earliest investors into some of the largest global companies today, including Beigene, Zoom, Meituan, JD, Woowa Brothers and many more. 

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