On June 5, 2019 EpimAb Biotherapeutics, an emerging Shanghai-based biopharmaceutical company specializing in bispecific antibodies, reported the closing of a $74 million USD Series B financing round (Press release, EpimAb Biotherapeutics, JUN 5, 2019, View Source [SID1234536901]). The financing was co-led by SDIC Fund and Sherpa Healthcare Partners, and also included investments from SCVC, further private investment entities, and the A round investors, bringing the total funding so far to over $100M USD. With the funding, EpimAb will continue to advance its clinical PhI/II program EMB01 and expand its clinical pipeline of multiple therapeutic candidates into immuno-oncology and other areas with highly unmet medical needs. In addition, EpimAb is expanding its current capacities with the addition of a new CMC site in Suzhou for process development and pilot manufacturing.
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"The completion of our Series B financing will allow the Company to accelerate transforming into a mid-size company, rapidly growing and advancing a pipeline based on our own discovery efforts," said Chengbin Wu, PhD, founder and CEO of EpimAb Biotherapeutics. "We are very proud to have grown from foundation on internal innovation to where we are today within less than 4 years and we greatly appreciate the support we’ve received from our existing and new investors, as well as their beliefs in our technologies that have demonstrated advantages in developing breakthrough biologics therapies."
EpimAb is creating a pipeline of novel proprietary bispecific antibody therapeutics with a strong focus on oncology and other areas of high values to patients. With the successful close of the B round, both Dongfang Li from SDIC Fund and Cheng Xing from Sherpa will join the Board of EpimAb with immediate effect. Next to Dr. Wu, the management of EpimAb consists of Dr. Stephan Lensky, leading the financing and BD efforts as COO and CBO, and Dr. Bin Peng, CMO, heading the translational and clinical development programs at EpimAb.
"EpimAb has been emerging as one of the most innovative Shanghai-based biotech companies with a global vision," said Dongfang Li, Director at SDIC Fund. "With EpimAb’s proprietary platform, strong science portfolio and well-orchestrated management, we are confident of its development in the upcoming years and have determined to become part of this exciting and unique enterprise."
"We have followed and recognized EpimAb’s rapid growth and progress in the past few years," said Cheng Xing, Managing Partner at Sherpa. "We are optimistic about its ongoing research progress and reinforcement of its position as a global leading bispecific antibody company with potential treatments benefiting more patients worldwide."