SDIC, Sherpa lead $74m round for China's EpimAb

South China Venture Capital also participated in the funding round, along with investors in the $25 million Series A round such as Oriza Seed Venture Capital, Decheng Capital, and 3E Bioventures Capital. The Series B round brings EpimAb's total funding to date to more than $100 million.

Founded in 2015, EpimAb is developing a pipeline of antibody therapeutics based on proprietary technology that can stimulate patients' immune systems, with a focus on cancer treatments. Its lead candidate is preparing for clinical testing after receiving approval earlier this year in both China and the US. The new funding will be used to accelerate development on this and other treatments.

"EpimAb has emerged as one of the most innovative Shanghai-based biotech companies with a global vision," said Dongfang Li, a director at SDIC, in a statement. "With EpimAb's proprietary platform, strong science portfolio and well-orchestrated management, we are confident of its development in the upcoming years."

SDIC Fund Management currently manages more than RMB60 billion ($8.7 billion) for LPs including China's State Development and Investment Corporation (SDIC) and the Social Security Fund, along with several private and state-owned enterprises. The fund focuses on healthcare, intelligent manufacturing, electric and smart vehicles, environmental protection, and information and communication technology.

SDIC is a frequent investor in China's pharmaceutical space, having backed the likes of KBP Biosciences, Suzhou Ribo Life Science, and Ascentage Pharma. Ascentage filed for an IPO in Hong Kong last year, though its application expired after six months; the company refiled its prospectus in April.

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• Topics
• Greater China
• Healthcare
• Early-stage
• China
• Pharmaceuticals
• SDIC Fund Management
• Oriza Holdings
• 3E Bioventures