CMB, Mirae lead Series C for China biotech player EpimAb

Hony Capital, Cormorant Asset Management, Yanchuang Capital, Octagon Capital, ShangBay Capital, and Adrian Cheng - whose family owns Hong Kong-listed New World Development - also took part. Investors such as Decheng Capital, SDIC Fund Management, Sherpa Healthcare Partners, and Hidragon Capital re-upped.

EpimAb previously received a $25 million Series A round led by Oriza Seed Venture Capital and a $74 million Series B in 2019 led by SDIC and Sherpa.

Founded in 2015, the company is developing a pipeline of antibody therapeutics that stimulate the immune system, with a focus on cancer treatments. The new funding will be used to accelerate clinical trials on three key products EMB-01, EMB-02, and EMB-06.

The first of these - which targets the epidermal growth factor receptor, a protein that can trigger cancer if it mutates or is damaged - is entering phase-two trials and has investigational new drug (IND) status in China and the US.

 

“EpimAb has emerged as one of the most innovative biotech companies using its global competitiveness and self-developed proprietary technology to innovate the field of bispecific antibodies,” said Jing Rong, a director at CMB International who will join the company's board.

China Renaissance served as the financial advisor for EpimAb's Series C.

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• Topics
• Greater China
• Expansion
• Healthcare
• China
• Hony Capital
• Pharmaceuticals
• Mirae Asset Private Equity
• Growth capital