SG biotech startup gets $27m infusion in series A money

AUM Biosciences, a Singapore-headquartered biotech startup, has raised US$27 million in series A funding. The round was led by Everlife, a Southeast Asian medical device distribution platform, and Sprim Global Investments (SGI), a global health sciences investment firm.

Photo credit: Michal Jarmoluk

AUM will use the fresh capital to accelerate pipeline expansion and business growth and to medically tackle the resistance that some cancer cells develop against drugs.

Through strategic collaborations with leading academic institutions, pharmaceutical, and biotech companies globally, AUM has created a line-up of small molecule-targeted therapies as well as in-house research programs.

The firm also plans to use the proceeds of the raise to advance the clinical development of its treatments, immediately starting its phase II programs for MNK and TRK inhibitors, which would target proteins that have been tied to a variety of cancers.

Founded in 2018 by Vishal Doshi and Harish Dave, AUM is a clinical-stage biopharmaceutical company that aims to make research and development more accessible with a focus on discovering, acquiring, and developing novel therapeutics in oncology. It uses a proprietary AI-augmented platform to discover and develop targeted cancer therapies focused on genetic targets.

“The synergy in our vision to support cancer patients with better, targeted therapies, has laid the foundation of this association and investment,” said Dave, chief medical officer and co-founder of AUM.

Earlier this year, the startup entered an agreement with South Korea-based Handok and CMG Pharmaceutical. In 2020, the firm also announced a five-year partnership with China-based Newsoara Biopharma to co-develop next-generation cancer therapeutics.