Antengene raises $120 million in Series B financing

Chinese biotech start-up Antengene Corp, a clinical stage therapeutics company focused on oncology, yesterday announced that it has completed a $120 million Series B financing.

The Series B financing was jointly led by Boyu Capital and FountainVest, with participation from Celgene (Nasdaq: CELG), WuXi Corporate Venture Fund, and Taikang. Previous investors, Qiming Venture Partners and TF Capital, also participated in this round. This new round follows a $21 million Series A financing in 2017, led by Qiming Venture Partners.

Proceeds from the financing will be primarily used to fund the continuing development of the company's lead programs ATG-008 and ATG-010 (selinexor) and other clinical-stage assets, to expand the company's pipeline through internal R&D and external partnerships, and to prepare the commercial launch of late-stage drug candidates.