Singapore-based biotech Hummingbird Bioscience said on 11 May that it raised an additional $25m after closing an extended series B round, led by new investor SK Holdings, a large Korean conglomerate, along with existing shareholders including Heritas Capital and SEED Capital (the investment arm of government agency Enterprise Singapore).

This new injection of funds will be used to accelerate the development of early-stage candidates into clinical trials and to strengthen Hummingbird’s general R&D activities. The company has developed computationally guided platforms aimed at creating breakthrough medicines for cancer and other diseases.

With the series B round extension to $25m due to over-subscription, Hummingbird has raised more than $65m through financing activities and strategic partnerships, including with Cancer Research UK and Amgen Inc.

Earlier this year, Hummingbird published positive data on its lead candidate HMBD-001, a first-in-class HER3 antibody. It also is progressing HMBD-002, a first-in-class VISTA antibody for cancer. Regulatory submissions to initiate Phase I studies for the two candidates are expected in the second half of 2020. – Ian Haydock

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