The Chinese biotech raises $120 million, including more money from Celgene.
Chinese clinical-stage biopharmaceutical company Antengene recently followed a mid-2017 series B financing round worth $21 million with second-round financing totaling $120 million. This latest investment round was led by Chinese venture capitalists Boyu Capital and FountainVest and included contributions from Celgene, WuXi Corporate Venture Fund, Taikang, Qiming Venture Partners and TF Capital.
Celgene’s investment is in addition to a deal completed in April 2017 through which Celegene licensed the East and Southeast Asian rights to ATG-008 (CC-223), a TORC1/2 inhibitor in late-stage testing for the treatment of hepatitis B virus+ hepatocellular carcinoma to Antengene and received an equity investment in the company and a position on the board of directors.
Antengene will use the latest round of funds for the further development of ATG-008 and ATG-010 (selinexor), a first-in-class selective inhibitor of nuclear export (SINE) candidate licensed in Asian markets from Karyopharm in May 2018, along with other clinical assets, including SINE drugs AGT-016 (eltanexor) and ATG-527 (verdinexor) and the PAK4/NAMPT dual inhibitor AGT-019.
The company is currently constructing a manufacturing and research facility in Shaoxing to provide clinical and commercial supply of its pipeline drugs.