Indonesian Biopharma Firm Etana Secures Tens of Millions in Series B Funding to Advance Localized Biologics and Vaccine Production

VCBeat has learned that on September 27, Indonesian biopharmaceutical company PT Etana Biotechnologies Indonesia (Etana) announced the completion of a tens-of-millions-of-dollars Series B financing round, led by Yunfeng Capital. The proceeds from this round will be primarily used for local clinical development and manufacturing of its monoclonal antibody (mAb) drugs and high-end vaccine product pipeline, team capability building, and production capacity expansion, thereby accelerating the improvement of Etana’s product portfolio and localized manufacturing capabilities in Indonesia and Southeast Asia.

Founded in 2014, Etana is dedicated to the research and development, manufacturing, and sales of high-quality, innovative, and affordable biologics for the Indonesian and Southeast Asian markets, addressing the needs of patients in the region for premium medical products and therapeutic solutions. Leveraging years of deep expertise and accumulation in the biopharmaceutical sector, Etana has established a robust product pipeline covering therapeutic areas such as metabolic diseases, autoimmune disorders, infectious disease vaccines, and oncology.

Etana is dedicated to enhancing Indonesia’s localized biopharmaceutical manufacturing capabilities and is currently establishing production systems for monoclonal antibodies, high-end vaccines, and other biopharmaceuticals. Since 2020, Etana has successively completed the localized introduction of recombinant protein technology and mRNA technology platforms, and has sequentially initiated local clinical trials and regulatory approval processes.

To date, Etana has accumulated numerous successful cases of overseas product introductions in the areas of product registration, manufacturing, and sales. In 2018, Etana successfully introduced the nephrology drug EPO (erythropoietin), completing local clinical trials, registration, and commercialization in Indonesia. In 2020, Etana obtained exclusive licensing rights for the local manufacturing and commercialization of Innovent Biologics’ Byvasda® in Indonesia, marking it as the first bevacizumab biosimilar produced domestically in Indonesia.

Nathan Tirtana, Founder of Etana, stated, “As a leading enterprise in Indonesia’s biopharmaceutical sector, Etana is committed to providing high-quality, affordable, and innovative biologics to patients in Indonesia and across Southeast Asia, helping them address the challenges posed by cancer and other life-threatening diseases. We are delighted to have secured support from international investors. With the policy support and guidance of the Indonesian government, Etana will continue to enhance its local biopharmaceutical manufacturing capabilities, improve treatment standards in Indonesia and throughout Southeast Asia, and benefit a broad patient population across the region.”

Etana, established in 2014, is a leading biopharmaceutical company in Indonesia, dedicated to providing high-quality, affordable, and innovative biologics to the Southeast Asian market. The company is currently pursuing regulatory registration and local manufacturing of multiple products, including monoclonal antibodies (mAbs), mRNA-based therapeutics, and other biopharmaceutical products.

Etana has constructed advanced production facilities that comply with international standards and the regulations of Indonesia’s National Agency of Drug and Food Control (BPOM). These facilities have obtained Halal certification from the Indonesian Ulema Council (MUI), the country’s authoritative Islamic scholarly body. The company is committed to actively expanding its product pipeline and increasing production capacity through international cooperation, thereby supporting the Indonesian government’s industrial development plans and addressing long-standing unmet clinical needs in the local market.