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COPENHAGEN, Denmark, 18 May 2021 /PRNewswire/ Novo Holdings today announced that it has led the oversubscribed US$125 million Series C financing in Hummingbird Bioscience (Hummingbird), an innovative clinical-stage biotech company focused on developing precision therapies against difficult-to-drug targets to improve treatment outcomes. This is one of the first investments in a privately-held Asian biotech company by Novo Holdings. Novo Holdings recently established an Asian life sciences investment platform in Singapore, Novo Holdings Equity Asia Pte. Ltd. ( Novo Holdings Asia ). Kenneth Harrison, Partner, Novo Ventures, will join Hummingbird s board of directors.
Hummingbird, headquartered in Singapore and the US, is developing a broad pipeline of first- and best-in-class drug candidates across multiple indications for the treatment of cancer. Proceeds from the financing will be used to advance the clinical development of Hummingbird s lead assets including HMBD-001,
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SG biotech startup Hummingbird Bioscience bags $125m Series C funding
Antibody visual sourced from Hummingbird s website
May 18, 2021
Singapore-based biotech startup Hummingbird Bioscience has announced raising $125 million in a Series C funding round led by life science investor Novo Holdings.
A syndicate of international biotech investors also participated in the funding round, including Frazier Healthcare Partners, Octagon Capital, EDBI, AMGEN Ventures, and existing investors SK Inc, Heritas Capital, and Mirae Asset Venture Capital, and others.
The biotech startup, which raised $25 million in an extended Series B round in May 2020, said it will use the fresh funding to advance the clinical development of its lead assets, including the antibody HMBD-001, which targets HER3, a cell surface protein associated with several cancers, including colorectal, gastric, and lung.
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RESEARCH TRIANGLE PARK –StrideBio, an emerging startup focusing on gene therapies, is gearing up for more growth after closing on a big $81.5 million round of venture capital.
Backed by Hatteras Venture Partners in Durham, StrideBio announced the new, second round of cash early Tuesday. The round was oversubscribed, the company says.
In 2018, StrideBio raised nearly $16 million in an oversubscribed first round of funding.
The new funding comes after StrideBio struck a $48 million licensing deal with rare disease drugmaker Sarepta Therapeutics in 2019.
Sapan Shah, a 20-year life science industry veteran, was named StrideBio’s CEO that same year.
“We are very pleased to receive such tremendous support from these top-tier healthcare investors and appreciate the confidence they have placed in our entire team,”Shah said of the new funding. “With this additional funding secured we will be able to translate next generation gene therapies enabled by our lead engineered capsid
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