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LATEST UPDATES » Vol 24, No. 07, July 2020 – Mitigating the Impact of COVID-19: How is Food Security Threatened?       » COVID-19 vaccine Reaches Phase I Clinical Trial       » Mathematical Model to Define Eruptive Stages of Young Volcanic Rocks       » Artificial Intelligence to Tackle Agricultural Challenges       » Installation of Mobile X-Ray System at COVID-19 Screening Center in Korea       » World's First Spherical Artificial Eye      
Vol 24, No. 06, June 2020   |   Issue PDF view/purchase
SPOTLIGHTS
Biotherapeutics Company Closes US$25 Million Investment
Hummingbird Bioscience extends Series B funding round with recent investment of US$ 25 million by new investor SK Holdings.

Singapore-based innovative biotherapeutics company, Hummingbird Bioscience closes an extended Series B funding round of US$ 25 million, brining the total capital raised to more than US$ 65 million to date. Funding sources include financing activities and strategic partnerships, with participation from existing shareholders including Heritas Capital and SEEDS Capital, the investment arm of Enterprise Singapore. Joining its list of shareholders is SK Holdings, responsible for the present round of funding.

“We are delighted to have SK Holdings join our investor base. Hummingbird Bioscience is building a strong portfolio of promising new therapies that we believe can deliver very meaningful benefit for patients across a broad spectrum of disease. These new funds give us further resources to develop our early stage pipeline, and support the clinical development of our lead programs,” said Dr Piers Ingram, Chief Executive Officer and co-founder, Hummingbird Bioscience.

“Heritas Capital is pleased to continue our backing of the Hummingbird team since leading its Series A extended round,” commented Chik Wai Chiew, Executive Director and Chief Executive Officer, Heritas Capital Management. “Even as the COVID-19 pandemic has resulted in a slow-down in investing, we are mindful that backing leading innovative biotech companies, especially players such as Hummingbird, to develop cures for addressing patients’ needs remains our priority.”

Earlier this year Hummingbird announced publication of positive data on its lead candidate, HMBD-001, a first-in-class HER3 antibody; and manufacturing of HMBD-002, a first-in-class VISTA antibody. Regulatory submissions to initiate Phase I studies for these two candidates are expected in the second half of 2020.

 

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