EpimAb Biotherapeutics acquired $25 million investment

| By | Biotechnologies, Clinical Trials, Investments

EpimAb Biotherapeutics, an emerging Shanghai-based biopharmaceutical company specializing in bispecific antibodies, 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.

“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.

SOURCE: business wire
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