Antengene Corporation Raises $120 Million in Series B Financing

2019-01-02

SHANGHAI and SHAOXING, China, Jan 2, 2019 — Antengene Corporation (Antengene), a clinical stage therapeutics company focused on oncology, announced today that it has completed a $120 million Series B financing. The Series B financing was jointly led by FountainVest Partners and Boyu Capital, 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.

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.”

“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 angel. That’s how FountainVest position ourselves,” said Jason 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.”

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.”

About Antengene

Antengene Corporation is a clinical-stage biopharmaceutical company focused on drug discovery, clinical development and the commercialization of innovative therapeutics to meet unmet medical needs in Asia. Antengene aims to provide the most advanced and first-in-class anti-cancer drug treatments for patients in China and rest of Asia. On April 13, 2017, Celgene Corporation (NASDAQ: CELG), a global leading innovative biopharmaceutical company became a long-term strategic partner and obtained an equity position in Antengene. Antengene’s pipeline includes five clinical stage products, ranging from Phase 2/3 to NDA stage, including ATG-010 for relapsed/refractory multiple myeloma, lymphomas and solid tumors, and ATG-008, which is in a multi-regional clinical trial that is currently enrolling late stage HCC patients in Taiwan, South Korea and mainland China. Two other Phase 1 and Phase 2 clinical stage drugs, ATG-016 and ATG-019, are being studied in multiple cancer types, including MDS, colorectal and prostate cancers. ATG-527, studied in a completed Phase 1 trial, is being explored for multiple anti-viral indications, including influenza, respiratory syncytial virus (RSV), and Epstein-Barr virus (EBV) related diseases.

About FountainVest

FountainVest Partners is one of the most established independent private equity firms in Asia. The firm focuses on long-term investments in industry leaders, partnering closely with management teams to accelerate growth and create value in diversified areas including strategy, operations, finance, and capital markets. FountainVest has completed a number of successful landmark investments globally. Sectors of focus include consumer, media & technology, healthcare, industrials, and financial services. FountainVest manages assets on behalf of world leading public pensions, sovereign wealth funds, and other institutional investors.

About Boyu

Boyu Capital is one of the largest private investment firms in China. With offices in Beijing and Hong Kong, Boyu has provided long-term capital and operational expertise to some of the best-managed and most innovative companies across the media/technology, healthcare, consumer/retail, and financial services industries.