Nan Fung, Pivotal China lead $80m round for Oncologie

The lead investors are both investment platforms of Hong Kong’s Nan Fung Group. Nan Fung Life Sciences has been making healthcare investments for several years, mainly through fund commitments. Pivotal was established in the US in 2017 as a captive GP with a $300 million fund. A China equivalent launched last year, with a mandate to invest $200 million over a longer-than-normal fund life.

Nan Fung Life Sciences and Pivotal China both participated in Oncologie’s Series A round. They are joined in the Series B by several new investors, including Panacea Venture and Korea Investment Partners. Panacea, which was founded by KPCB alumnus James Huang, closed its debut early-stage China healthcare fund in April at $180 million.

Oncologie has three clinical stage programs, one of which is categorized as late-stage. All three involve the development of small molecule treatments intended to interfere in cellular communications that reduce the ability of immune cells to recognize and fight tumors. The company also has a biomarker platform that helps match patients with optimal treatments.

“I am particularly excited by Oncologie’s biomarker strategy and approach, which leverages cutting-edge science to optimize patient selection in the challenging arena of the tumor microenvironment. This team has an ambitious and strategic growth plan for building a leading oncology therapeutics company around this platform and around a pipeline of next-generation immunotherapies,” said Peter Bisgaard, a managing director of Nan Fung Life Sciences and a managing partner at Pivotal, said in a statement.

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• Topics
• Greater China
• Healthcare
• Early-stage
• China
• Pivotal Bioventure Partners China
• Panacea