EpimAb Biotherapeutics Raises $25M In Series A Financing From International Consortium To Advance Pipeline Of Novel Bispecific Antibodies
SHANGHAI--(BUSINESS WIRE)--EpimAb Biotherapeutics, an emerging Shanghai-based biopharmaceutical company specializing in bispecific antibodies, today announced the completion of a $25 million Series A financing round. The financing was led by Oriza Seed Capital and included investments from Decheng Capital, 3E Bioventures Capital and the Trend Investment Group. With the funding, Epimab will advance its proprietary bispecific platform technology and build a pipeline of therapeutic candidates in immuno-oncology and other areas with a high unmet medical need. The start of the first clinical trial with a proprietary program is anticipated for 2018. Dr. Ning Li from Oriza and Dr. Min Cui from Decheng will both join the Board of EpimAb next to Robert Kamen, former President of Abbott Bioresearch, Yajun Xu, Co-Founder, as well as the Founder and CEO, Dr. Chengbin Wu.
“We highly recognize the potential of Epimabs's bispecific antibody platform and welcome the opportunity to support the organization in bringing therapeutic candidates into clinical trials just three years after its foundation”
“Today’s funding will give us the opportunity to broaden our pipeline and advance our first oncology program towards the clinic with plans to submit the first IND early 2018,” said Chengbin Wu, PhD, CEO of Epimab Biotherapeutics. “We are very grateful for the tremendous support from this international investment consortium and are looking forward to further strengthen Epimab’s position in the bispecifics antibody market through strategic partnerships and proprietary development in the future.”
“We highly recognize the potential of Epimabs's bispecific antibody platform and welcome the opportunity to support the organization in bringing therapeutic candidates into clinical trials just three years after its foundation,” said Eric Zhao, General Partner at Oriza Seed Capital. “Even though the bispecific antibody space is very competitive, we are confident that Epimab has the potential to become a leader in the sector with a proprietary platform that was validated through early partnerships with biopharmaceutical companies in China and abroad.”
Epimab was founded in 2015 and has developed a novel platform technology to generate bispecific molecules with antibody-like properties called FIT-Ig® (Fabs-In-Tandem Immunoglobulin), designed to be more potent, less immunogenic and easier to manufacture. The company is led by Dr. Wu, the inventor of FIT-Ig®, founder and CEO of EpimAb. Prior to building Epimab, he was the CSO of Shanghai CP Guojian and before SVP Biologics of Shanghai ChemPartner. Dr. Stephan Lensky, former Corporate VP and Global Head of Transactions and Alliances at Boehringer Ingelheim, was the first employee at EpimAb and is leading its strategy, financing and BD efforts as COO and CBO.
About EpimAb Biotherapeutics, Inc.
EpimAb Biotherapeutics is a privately owned biopharmaceutical R&D company based in Shanghai with a proprietary unique and efficient technology called FIT-Ig® (Fabs-In-Tandem Immunoglobulin) to generate bispecific molecules with antibody-like properties. With this platform EpimAb is creating a pipeline of its own novel bispecific antibody therapeutics focused around immuno-oncology and other areas of high value to patients. EpimAb is also committed to diversifying its pipeline through selective licensing of its platform to partners worldwide. For further information, please visit www.epimab.com
About Oriza Seed
Oriza Seed Venture Capital, located in Suzhou Industrial Park, is held by Oriza Holdings Ltd. Oriza Seed is a market-oriented investment platform. It looks for investment opportunities among early-stage and growth-stage enterprises in the fields of Healthcare and TMT. Oriza Seed has ample resources and experiences investing in the healthcare field. By late March 2017, Oriza Seed has invested in more than 70 healthcare companies, including Ascentage Pharma, Innovent Biologics, and CStone Pharmaceuticals.
Dr. Stephan Lensky, COO/CBO
Direct: +49 152 2610 7621
Mario Brkulj or Dr. Stephanie May
Direct: +49 175 5010575 or +49 175 5711562
Main: +49 89 24243494 or +1 781 235 3060
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