Chinese drugmaker invests $36.5 mln in British biotech business Kymab

Shenzhen Hepalink Pharmaceutical Co

24/11/2016 10:37

LONDON, Nov 24 (Reuters) - British privately owned biotech 
company Kymab has secured $100 million of funding from 
investors, including $36.5 million from China's Shenzhen 
Hepalink Pharmaceutical  002399.SZ , to help to fund its 
pipeline of experimental antibody drugs. 
    Shenzhen Hepalink's involvement reflects growing interest in 
biotechnology opportunities among Chinese pharmaceutical 
companies. 
    Kymab said on Thursday that ORI Healthcare Fund is also a 
new investor in the Cambridge-based business, which is headed by 
industry veteran David Chiswell and is focused on 
immuno-oncology, auto-immunity, haematology and infectious 
disease. Its first antibody is due to enter clinical trials next 
year. 
    Chiswell, who led Cambridge Antibody Technology before its 
sale to AstraZeneca  AZN.L , said that Hepalink's global reach 
and United States-based manufacturing capacity would help Kymab 
to maximise its potential as drugs were developed and 
commercialised. 
    Existing shareholders, including the Wellcome Trust, Bill & 
Melinda Gates Foundation, Malin  MLCM.I  and fund manager Neil 
Woodford, also put in new money. 
    The latest "series C" funding round follows two earlier 
financings that raised $120 million. 
 
 (Reporting by Ben Hirschler; Editing by David Goodman) 
 ((ben.hirschler@thomsonreuters.com; +44 20 7542 5082; Reuters 
Messaging: ben.hirschler.thomsonreuters.com@reuters.net)) 
 
Keywords: CHINA BRITAIN/BIOTECH