ZHONGSHAN, China, Nov. 8,
2019 /PRNewswire/ -- Akeso, Inc. (hereinafter referred to
as "Akeso") announced the completion of its Series-D private
financing for nearly US$150 million,
which was co-led in investment by Loyal Valley Capital ("LVC") and
Sino Biopharmaceutical Co. Ltd. ("Sino Biopharm"), participated and
invested by famed investment institutions including Shenzhen
Capital Group Co., Ltd ("SCGC"), Lake Bleu Capital (Hong Kong) Limited ("Lake Bleu Capital"), CDG
International Company limited, AIHC master fund, OrbiMed, K. Wah
Group, CCB Capital Management and Apricot Capital.
Dr. Xia Yu, CEO,
President and founder of Akeso said, "We are very honoured to have
received recognition and support from top investment institutions
in biopharmaceutical industries both domestically and
internationally. This round of financing has successfully drawn
continuous support from industry-renowned long-term investment
funds, famous strategic investors, top tier healthcare funds widely
recognised in the capital market, influential family funds from
Hong Kong and a multitude of
existing shareholders. After this round of financing is completed,
to further develop and expand the Company, we will accelerate the
R&D of innovative drugs pipelines and the clinical trials of
new drug programs, attract and nurture talent, and further quicken
the entry of high-quality, innovative medicines into the market
through self-R&D and external collaborations."
With a vision of developing premium, affordable,
high quality antibody drugs for global patients, Akeso strives to
self-develop new-generation world-leading novel antibody drugs.
Since its establishment in 2012, the company has developed a
product portfolio consisting of over 30 drugs being researched in
the anti-tumour and self-immunological fields. The
unique Tetrabody bi-functional antibody development
technology developed by the company has become one of the few
double-resistance platforms with production and clinical
verification. The company has also developed through Tetrabody
technology a series of bi-functional antibody drugs based on PD-1.
Among the medicines, AK104 and AK112 are the world's first, new
anti-PD-1/CTLA-4 and anti-PD-1/VEGF bi-functional antibody drugs
entering clinical trials and candidates for the China's top 10 biotechnologies with progress
for 2017. Akeso Biopharma's PD-1 bi-functional antibody drugs
represented by AK104 and AK112 are expected to become
new-generation anti-tumour immunotherapy more effective than PD-1
antibody medicine.
Ms. Iris Wang, Managing Director at OrbiMed
commented, "OrbiMed seeks to invest in biopharmaceutical companies
pursuing high-potential new drugs for important diseases with unmet
needs. Akeso has developed a broad and innovative portfolio in both
oncology and immunology therapeutic areas, and is showing promising
results in clinical trials. We are excited to participate in this
Series D financing to support Akeso's next phase of
growth."
"We feel very honoured to be able to continue
supporting Akeso. LVC concentrates on supporting entrepreneurs
pursuing excellence and creating a world-class superb business
through long-term and persistent efforts. As a pharmaceutical
R&D company with strong, independent R&D capabilities for
innovative medicines, Akeso has steadily built a top-rated R&D
platform for new drugs since its early days, has a highly focused,
dedicated and brilliant team of management and is committed to
developing premium, affordable, new-generation antibody medicines
for patients the world over, very much in line with our investment
philosophy. In the coming few years, we look forward to sharing our
experience and resources with Akeso Biopharma and supporting the
company in becoming the world's leading innovative, pharmaceutical
R&D firm," said Loyal Valley Capital's managing partner Lin
Lijun.
Tse Hsin, vice
president of Sino Biopharm, said: "After our subsidiary Chia
TaiâTianqing Pharmaceutical and Akeso Biopharma reached a
cooperation agreement in June, this is our yet another deep
collaboration with the company, and Sino Biopharm's first pre-IPO
where it leads in investment as one of the innovative, domestic
biopharmaceutical players. Sino Biopharm strives to develop drugs
with outstanding clinical value, particularly innovative medicines.
This time, our investment in Akeso Biopharma is in line with our
overall innovative strategies, and we are optimistic and supportive
of the company's development. Our once-again cooperation symbolises
that we are going deep in interactively building our pharmaceutical
ecosystems, which is expected to benefit more patients in
China and beyond."
"We are very glad to be able to help Akeso
achieve their goal of developing high-quality and effective
antibody drugs. Over the last year, we, as long-time shareholders,
were very happy to see the Company make fast progress in the
R&D, clinical trials and commercialisation cooperation on
various drugs. The progress has proved the company's strong
capabilities for implementation, innovative and business expansion.
We look forward to offering the company long-term support for
strengthening product development and creating greater commercial
value," Dr Li Bin, founder of Lake Bleu Capital, said.
Li Hongxing, managing Director CDG International
said, "China's innovative medicine
industry, especially the market for innovative anti-tumour
biomedicines and immunotherapy, has huge growth potential. Having
world-leading R&D innovation capability, Akeso Biopharma is a
leader in innovative biopharmaceutical R&D. The corporate team
represented by Dr Xia Yu has
accumulated a great deal of R&D experience in antibody drugs,
especially bispecific antibody candidates, and formed a rich
portfolio of antibody medicines through the self-built
pharmaceutical R&D platforms, taking absolute lead in our
country's antibody drug arena. Akeso Biopharma possesses
industry-wide R&D capabilities and built cGMP production lines
meeting NMPA, EMA and FDA standards ages ago. This time, the
investment will help the company achieve biopharmaceutical
breakthroughs and industrialisation of its R&D results, which
is in line with CDG International's strategies."
About OrbiMed
Capital:
OrbiMed Capital is an
investment firm dedicated exclusively to the healthcare sector.
OrbiMed Capital invests globally across a spectrum of healthcare
companies, from venture capital start-ups to large multinational
companies. OrbiMed Capital manages a series of private equity
funds, public equity funds, royalty/debt funds and other investment
vehicles.
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SOURCE Akeso, Inc.