Singapore’s Hummingbird Bioscience nets $25m in extended series B round

Hummingbird Bioscience, a Singapore-based biotherapeutics company, today announced that it has raised US$25 million in an extended series B funding round led by new investor SK Holdings. This brings its total capital raised to US$65 million.

Existing investors, including Heritas Capital and Seeds Capital, the investment arm of Enterprise Singapore, also participated in the round.

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The company plans to use the new funds to accelerate the development of new candidates into clinical trials, as well as strengthen its scientific and research and development capabilities, according to a statement.

“These new funds give us further resources to develop our early-stage pipeline and support the clinical development of our lead programs,” said Piers Ingram, CEO and co-founder of Hummingbird Bioscience.

Founded in 2015, Hummingbird Bioscience uses systems biology to develop insights into disease biology and applies computationally guided platforms to discover and engineer biotherapeutics. It’s present in Houston, Texas and South San Francisco, California.

The company has a pipeline of drug candidates – including HMBD-001, an anti-HER3 antibody, and HMBD-002, an anti-VISTA antibody – for cancer treatment.

Earlier this year, the biotech company announced the publication of positive data on HMBD-001 and the manufacturing of HMBD-002. Regulatory submissions to initiate Phase I studies for these two are expected in the second half of 2020, according to the statement.

Last year, the company raised an undisclosed amount in its extended series A round, followed by a US$19 million raise in series B money.