China’s Antengene raises $120m to boost drug development

Chinese biopharmaceutical firm Antengene has raised $120m in a series B funding round led by Boyu Capital and FountainVest to support the development and commercialisation of new therapeutics.

The funding round was also joined by Celgene Corporation, WuXi Corporate Venture Fund, Taikang, Qiming Venture Partners and TF Capital.

Founded in 2017, Antengene focuses on offering new drugs and combination therapies for diseases having high unmet medical needs in China and the Asia-Pacific region.

The company plans to use the new funds to further develop its clinical-stage assets, boost pipeline through research and development, as well as collaborations and support the commercial launch of late-stage candidates.

"We will continue to maintain and advance rigorous, science-driven, and patient-centred R&D, while actively preparing for the commercialisation of our lead products in China and the Asia-Pacific region."

Antengene founder, chairman and CEO Jay Mei said: "This round of financing is critical for Antengene’s growth. We will continue to maintain and advance rigorous, science-driven, and patient-centred R&D, while actively preparing for the commercialisation of our lead products in China and the Asia-Pacific region."

The firm’s pipeline comprises a total of five clinical stage products: ATG-008, ATG-010, ATG-016, ATG-019 and ATG-527.

A TORC1/2 inhibitor, ATG-008 is being developed to treat hepatitis B virus positive (HBV+) hepatocellular carcinoma. The drug candidate is currently undergoing a clinical trial in Taiwan, China, South Korea and mainland China.

ATG-010 is a selective inhibitor of nuclear export (SINE) compound intended for a variety of haematological malignancies and solid tumours.

ATG-016 and ATG-019 are Phase I and Phase II clinical stage drugs being assessed for the treatment of different cancer types.

ATG-527 is being evaluated for various anti-viral indications such as influenza, respiratory syncytial virus (RSV) and Epstein-Barr virus (EBV) related conditions. It has already been investigated in a Phase I trial.

Antengene is currently building a 169,984ft² manufacturing and research facility in Shaoxing, China for clinical and commercial supply of its pipeline products.

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