LONDON, Nov 24 (Reuters) - British privately owned biotech company Kymab has secured $100 million of funding from investors, including $36.5 million from China’s Shenzhen Hepalink Pharmaceutical, to help to fund its pipeline of experimental antibody drugs.
Shenzhen Hepalink’s involvement reflects growing interest in biotechnology opportunities among Chinese pharmaceutical companies.
Kymab said on Thursday that ORI Healthcare Fund is also a new investor in the Cambridge-based business, which is headed by industry veteran David Chiswell and is focused on immuno-oncology, auto-immunity, haematology and infectious disease. Its first antibody is due to enter clinical trials next year.
Chiswell, who led Cambridge Antibody Technology before its sale to AstraZeneca, said that Hepalink’s global reach and United States-based manufacturing capacity would help Kymab to maximise its potential as drugs were developed and commercialised.
Existing shareholders, including the Wellcome Trust, Bill & Melinda Gates Foundation, Malin and fund manager Neil Woodford, also put in new money.
The latest “series C” funding round follows two earlier financings that raised $120 million. (Reporting by Ben Hirschler; Editing by David Goodman)