Thursday, Sep 23, 2021
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Hummingbird Bioscience secures funding to advance clinical development of its assets

Hummingbird Bioscience funding_IFM_Image
The biotech raised $125 mn in a fresh funding round led by Novo Holdings

Singapore-based biotech firm Hummingbird Bioscience has secured around $125 million in its Series C funding round to advance the clinical development of its assets, media reports said. It plans to expand the capabilities of its proprietary Rational Antibody Discovery platform (RAD) and progress the development of its next-generation pipeline of precision therapeutics, including HMBD-009, a BCMA-TACI dual-specific T cell engager.

The funding round was led by led by Novo Holdings. Existing investors including SK Inc, Heritas Capital, and Mirae Asset Venture Capital also participated. The funding round for Hummingbird Bioscience also saw participation from new investors such as Frazier Healthcare Partners, Octagon Capital, EDBI, AMGEN Ventures, DROIA Ventures, Morningside Ventures, Pureos Bioventures, Polaris Partners, Affinity Asset Advisors, Ally Bridge Group and Altrium Capital Management.

Piers Ingram, Chief Executive Officer and co-founder, Hummingbird Bioscience told the media, “We are delighted to have the support and confidence of leading global healthcare investors to advance the development of our unique pipeline of precision therapies against important, yet hard-to-drug targets. We have made tremendous progress since closing our Series B in 2019 and this financing reflects strong support for our platform, people, and development strategy.

“With our world-class team of researchers and proprietary technologies, Hummingbird is at the cutting-edge of scientific discovery. These new funds give us further resources to invest in our early stage pipeline, as well as supporting the clinical development of our two lead programs that we believe can deliver very meaningful benefit for patients.”

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