On January 1, 2019 Antengene Corporation (Antengene), a clinical stage therapeutics company focused on oncology, reported that it has completed a $120 million Series B financing (Press release, Antengene, JAN 1, 2019, View Source [SID1234532325]). The Series B financing was jointly led by Boyu Capital and FountainVest, with participation from Celgene Corporation, WuXi Corporate Venture Fund, and Taikang. Previous investors, Qiming Venture Partners and TF Capital, also participated in this round. This new round follows a $21 million Series A financing in 2017, led by Qiming Venture Partners.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

Founded in 2017, Antengene is a biopharmaceutical company that focuses on the development and commercialization of novel therapeutics. Headquartered in China, Antengene is committed to delivering innovative drugs and combination therapies to diseases with high unmet medical needs in China and the Asia-Pacific region.

Proceeds from the financing will be primarily used to fund the continuing development of the company’s lead programs ATG-008 and ATG-010 (selinexor) and other clinical-stage assets, to expand the company’s pipeline through internal R&D and external partnerships, and to prepare the commercial launch of late-stage drug candidates. A 169,984 square feet manufacturing and research facility in Shaoxing, China, currently undergoing construction for GMP manufacturing, will provide both the clinical and commercial drug supply for the company’s pipeline products.

ATG-010 (selinexor) is a first-in-class Selective Inhibitor of Nuclear Export (SINE) compound in late clinical development for the treatment of multiple hematological malignancies and solid tumors, including multiple myeloma, diffuse large B-cell lymphoma, liposarcoma, etc. ATG-008 is a second generation TORC1/2 inhibitor currently in late stage development for the treatment of hepatitis B virus positive (HBV+) hepatocellular carcinoma. This program has also been selected as a "Key Project for Novel Drug Development in China".

"We are grateful for the support and recognition from these prestigious and well-established investors, and that we share a common vision of delivering cutting-edge therapies to help patients with life-threatening diseases. We look forward to creating value for patients, investors and our partners," said Dr. Jay Mei, founder, chairman, and CEO of Antengene. "This round of financing is critical for Antengene’s growth. We will continue to maintain and advance rigorous, science-driven, and patient-centered R&D, while actively preparing for the commercialization of our lead products in China and the Asia-Pacific Region."

Commented Yanling Cao, Managing Director of Boyu Capital, "As a long-term investor in China’s biopharmaceutical industry, Boyu Capital is much honored to be the lead investor in the Series B financing of Antengene. We view in-licensing of first-in-class/best-in-class drug candidates as an effective solution to the unmet clinical needs in China. In addition, we are very impressed with the progress that Antengene is making and the pipeline they are building. Therefore, we are excited about the opportunity to work with the exceptional team at Antengene and bring novel therapeutics to Chinese and Asian patients."

"In the coming decade, China will rapidly fill the gap in healthcare compared to western countries. This trend will continuously bring opportunities to innovative biopharmaceutical companies such as Antengene. But it also requires patient capital and financial investor with strategic angle. That’s how FountainVest position ourselves," said Zhen Li, Managing Director of FountainVest. "We are delighted and fortunate to lead this round of investment in Antengene, and look forward to best deploying FountainVest’s resources and expertise in the field to contribute to the healthcare industry in China and the rest of Asia together with Antengene."

On January 1, 2019 Innovent Biologics, Inc. (Innovent) (HKEX: 01801), a world-class biopharmaceutical company that develops and commercializes high quality medicines, reported that the first patient has been dosed in a phase III clinical trial (ORIENT-15) that is to evaluate Tyvyt (fully human anti-PD-1 therapeutic monoclonal antibody, generic name: sintilimab injection), in combination with paclitaxel and cisplatin, as first-line treatment in patients with advanced, recurrent or metastatic esophageal squamous cell carcinoma (ESCC) (Press release, Innovent Biologics, JAN 1, 2019, View Source [SID1234532324]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

The ORIENT-15 study is a randomized, double-blind, multi-center, phase III trial conducted in China to evaluate the efficacy and safety of Tyvyt (sintilimab injection) or placebo in combination with chemotherapy as first-line treatment in subjects with unresectable, locally advanced, recurrent or metastatic ESCC. The phase III study will enroll 640 patients. The study follows a phase Ib study that evaluated Tyvyt (sintilimab injection) in patients with esophageal cancer and a phase II study that evaluated Tyvyt (sintilimab injection) versus paclitaxel/irinotecan as second-line therapy for patients with advanced/metastatic ESCC.

"The incidence of esophageal squamous cell carcinoma in Asian countries is much higher than in western countries. Today, patients have no treatment options other than chemotherapy and radiation therapy. Immune checkpoint inhibitors have brought new hope to patients with this life-threatening disease. Based on the efficacy signals and the safety profile from previous trials, we hope to validate the therapeutic potential of Tyvyt (sintilimab injection) in combination with chemotherapy in ORIENT-15, a phase III trial," said Professor Lin Shen from the Beijing Cancer Hospital.

"Esophageal cancer is the third most common malignant tumor in China. The development of new agents for the treatment of advanced esophageal squamous cell carcinoma has been stagnant, so there is a huge unmet medical need. Based on the preliminary result or the ongoing phase II study, we have decided to conduct ORIENT-15, a phase III study as a first-line treatment for patients with esophageal squamous cell carcinoma. Our goal is to provide more effective cancer treatment options for these patients and for their families," said Michael Yu, Founder, Chief Executive Officer and Chairman of Innovent.

About Tyvyt (sintilimab injection)

Tyvyt (sintilimab injection) is an innovative drug jointly developed by Innovent and Eli Lilly and Company in China. Tyvyt (sintilimab injection) is a type of immunoglobulin G4 monoclonal antibody, which binds to the PD-1 molecule on the surface of T-cells, blocks the PD-L1（Programmed Cell Death-1 Ligand-1, PD-L1 pathway）and reactivates T-cells to kill cancer cells. Tyvyt (sintilimab injection) is the only PD-1 antibody in China branded by both a local biopharmaceutical company and a global pharmaceutical company.

About ORIENT-15 Study

The ORIENT-15 study is a randomized, double-blind, multi-center, phase III trial that evaluates the efficacy and safety of Tyvyt (sintilimab injection) in combination with chemotherapy as first-line treatment in subjects with unresectable, locally advanced recurrent or metastatic ESCC in China. Patients will receive Tyvyt (sintilimab injection) or placebo in combination with paclitaxel and cisplatin until disease progression. Participants will be randomly assigned in a 1:1 ratio into experimental or control groups. The study will enroll 640 patients. The primary endpoint is overall survival in both the entire population and in PD-L1 positive population of patients.

About Advanced or Metastatic Esophageal Squamous Cell Carcinoma (ESCC)

Esophageal cancer is the eighth most common cancer in the world, and the sixth leading cause of cancer death. Nearly four out of five cases occur in developing countries. China has the largest population of patients with esophageal cancer in the world. The incidence and mortality in China are higher than the worldwide average, ranking 3rd and 4th respectively. The histopathological type of esophageal cancer in China is different than that in Europe and the United States. In China the major type of esophageal cancer is squamous cell carcinoma which accounts for more than 90% of cases. In the United States and Europe adenocarcinoma of the esophagus is the predominant histopathology. The prognosis of patients with advanced and metastatic esophageal cancer is poor with an overall survival of about 10 months.