Kymab raises €94m for mAb pipeline
UK-based biopharma group Kymab has brought a new backer from China on board. With the help from ORI Healthcare Fund, Kymab secured a US$100m Series C financing.
The financing was led by new investors ORI Healthcare Fund L.P. ("ORI Fund") with participation by Shenzhen Hepalink Pharmaceutical Co., Ltd. Already, Kymab can count some of the biggest name in biotech investment among its backers: Wellcome Trust, Bill & Melinda Gates Foundation, Malin Corporation plc, CF Woodford Equity Income Fund and Woodford Patient Capital plc participated in follow-on investments.
With the money, Kymab plans to advance its pipeline of therapeutic human monoclonal antibodies, which have been developed with the companys proprietary Kymouse transgenic antibody platform. Its most advanced compound is KY1005, for the treatment of T cell-driven inflammatory diseases. It is scheduled to enter the clinic in 2017.
"ORI Fund and Hepalink bring deep experience of the pharmaceutical industry. Hepalink has a global reach for their products and have biologics manufacturing capability in the US, commented David Chiswell, who took over as CEO of Kymab earlier this year. This investment will help us maximise the potential of the Kymab pipeline as we develop and commercialise monoclonal antibody medicines for patients world-wide."
The Series C follows the US$120m Series A and B financings.
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