Alphamab Oncology Just Completed $60 Million Series B Financing

At May 28, 2019. Alphamab Oncology has announced the completion of approximately $60 million in Series B financing. The current round of financing was led by Hudson Bay Capital and followed by Zhigang Zhang, Chinese state-owned capital venture capital fund(CVC), Pacific Alliance Group(PAG) and Advantech Capital.

Alphamab Oncology is a leading biopharmaceutical company in the world, and it mainly focused in the field of cancer’s and autoimmune’s products and technology. This round of financing will be used for the research and development of new drugs, construction of new production facilities and preparation for KN035(Envafolimab) to be approval and commercialization in China.

Dr. Ting Xu, the founder and Chairman of Alphamab Oncology said, “since the establishment of the company, we have been promoting the development of key platforms and new drugs to deepen the company's long-term development strategy around the world. The long-term goal of Alphamab Oncology is to use our innovative drugs to make the tumor become a controllable and treatable disease and improve the quality of lives among cancer patients around the world.”

Sander Gerber, the CEO and Chief Investment Officer of Hudson Bay Capital, said “We are very pleased to help Alphamab Oncology to achieve the goal of developing therapeutic and quality oncology drugs. This investment shows that we are confident to believe that Alphamab Oncology will become the new leading company among cancer drugs and commercialization. We look forward to Alphamab Oncology to strengthen its product pipeline development to create greater business value.”

Before this round of financing, Alphamab Oncology has already secured $130 million from Series A financing. This is one of the largest Series A financing among the Chinese biopharmaceutical industry in recent years.

Hudson Bay Capital was founded back in 2005, It is an asset management company located in New York City. The company manages around a few billion dollars of asset, and it has around 70 employees.

It is a Chinese state-owned investment company that founded back in 2016. It mainly focuses on technological innovation, technology upgrading and biomedicine.        

Founded back in 2002, PAG is an investment management company that mainly focuses on stock, real estate and bonds investment. They manage around $30 billion of capitals. 

is a private equity investment fund in China, they are focusing on innovation-driven investment opportunities like medical health services and technology innovation projects.