Date: 2018-05-16
Type of information: Series B financing round
Company: HiFiBiO Therapeutics (USA - MA)
Investors: Sequoia China (China) LYFE Capital (China) VI Ventures (China) Nest.Bio Ventures (USA - MA) Legend Star Capital (China) Proxima Ventures (Israel)
Amount: $37.5 million
Funding type: series B financing round
Planned used:
Others:
- • On May 16, 2018, HiFiBiO Therapeutics announced the completion of a $37.5 million Series B financing round and the company’s transformation into a multinational biopharmaceutical enterprise with an experienced management team, stronger global presence and rich pipeline of novel antibody drugs to treat cancer and autoimmune disorders.
- The $37.5 million Series B financing was led by Sequoia China and LYFE Capital. The financing round was also supported by existing Series A investors, VI Ventures and Nest.Bio Ventures, as well as new investors, Legend Star Capital and Proxima Ventures.
- HiFiBiO Therapeutics made its first step towards becoming an innovative therapeutics company by appointing a new management team of experienced industry veterans. Dr. Schweizer brings more than 30 years of experience in biomedical research and drug discovery and development. She previously held senior management roles in cancer research at Sanofi and BMS. New Chief Operating Officer, Jeff He adds more than 20 years in corporate finance, strategy and operations. He was previously an Executive Vice President at ChemPartner. Dr. Schweizer and Mr. He worked together previously and co-authored a paper published in Drug Discovery Today that promoted a similar open innovation model that HiFiBiO Therapeutics employs today. In addition, the HiFiBiO Therapeutics management team includes two original founders of HiFiBiO Inc. Colin Brenan, PhD, will continue to serve as the Chief Commercial Officer and Fred Dom assumes a new role as the Chief Financial Officer.
- HiFiBiO Therapeutics currently has more than 50 full-time employees operating out of three facilities in the USA, France and China. Both the laboratories in Cambridge, Mass. and Hangzhou, China are located within the Nest.Bio Ventures incubator facilities. The company continues to establish multiple strategic partnerships with leading pharmaceutical and biotechnology companies to drive an innovative pipeline of antibody drugs that leverage its proprietary single-B-cell functional antibody discovery CelliGO™ platform.
Therapeutic area: Technology - Services
Is general: Yes
