Antengene Secures $97 Million Series C Financing to Advance Oncology Pipeline and Commercialization

On July 20, 2020, Antengene Corporation, a leading company dedicated to the research, development, and commercialization of novel-mechanism or best-in-class innovative oncology drugs, announced today the completion of its $97 million Series C financing round.

This round of financing was led by Fidelity Management & Research Company LLC. Other new investors included GL Ventures, the Government of Singapore Investment Corporation (GIC), and a prominent long-term institutional investor. Existing investors Qiming Venture Partners and Boyu Capital continued to participate in the investment.

“We are deeply grateful for the recognition and trust from renowned investment institutions. This round of financing has received support from investors at one of the world’s largest asset management firms, as well as from leading investors well-known in the healthcare industry, along with continued backing from our existing investors. This financing represents a significant milestone for Antengene Corporation. With this support, we will further advance cutting-edge innovative therapies for patients in the Asia-Pacific region and around the world who suffer from life-threatening diseases,” said Dr. Mei Jianming, Founder, Chairman, and Chief Executive Officer of Antengene Corporation.

The proceeds from this financing will be primarily used to consolidate and strengthen the Company’s robust R&D pipeline, advance the ongoing clinical development of products for hematologic malignancies and solid tumors, continue to enhance its capabilities in independent early-stage drug discovery, and further bolster its commercialization operations in the Asia-Pacific market. Currently, Antengene Corporation has established a rich R&D pipeline comprising six products in clinical stages and six projects in preclinical stages, achieving multiple significant milestones:

· ATG-010 (selinexor) is the world’s first oral selective inhibitor of nuclear export (SINE). In July 2019, the U.S. FDA approved selinexor in combination with low-dose dexamethasone for the treatment of relapsed/refractory multiple myeloma (RRMM), and in June 2020, it approved selinexor monotherapy for relapsed/refractory diffuse large B-cell lymphoma (R/R DLBCL). Currently, ATG-010 is undergoing registrational clinical trials in China for relapsed/refractory multiple myeloma and relapsed/refractory diffuse large B-cell lymphoma. Clinical development of this drug for various other solid tumors (including KRAS-mutated solid tumors) and hematologic malignancies has also advanced to late-stage clinical trials. Preclinical studies have demonstrated that inhibitors of exportin 1 (XPO1) can effectively treat a variety of tumors harboring KRAS mutations.

· ATG-008 (onatasertib) is a second-generation mTORC1/2 inhibitor currently undergoing multiple multicenter clinical studies as monotherapy or in combination with anti-PD-1 antibodies for the treatment of advanced hepatocellular carcinoma (HCC), non-small cell lung cancer (NSCLC), gynecologic malignancies, and various other tumor types.

· ATG-016 (eltanexor) is a second-generation oral selective inhibitor of the nuclear export protein XPO1, currently undergoing clinical studies for myelodysplastic syndromes (MDS). Clinical trials for ATG-016 in various solid tumors, including colorectal cancer (CRC) and prostate cancer (PrC), are also being conducted concurrently.

· ATG-019 is the world’s first dual inhibitor targeting PAK4 and NAMPT, with multiple clinical trials underway in various oncology indications, including non-Hodgkin lymphoma (NHL), colorectal cancer, non-small cell lung cancer, and melanoma. Furthermore, preclinical studies have demonstrated that combining ATG-019 with anti-PD-1 antibodies can significantly enhance antitumor efficacy and prove effective in patients resistant to anti-PD-1 antibody therapy.

· ATG-527 (verdinexor) is an investigational innovative product with antiviral and autoimmune disease therapeutic potential. It is currently undergoing clinical studies for infections caused by human herpesvirus 4 (Epstein-Barr virus, EBV), respiratory syncytial virus (RSV), and cytomegalovirus (CMV), as well as for systemic lupus erythematosus (SLE). ATG-527 has completed Phase I clinical trials in healthy subjects.

· ATG-017 is a highly specific small-molecule inhibitor targeting ERK1/2, currently undergoing clinical studies for various solid tumors, non-Hodgkin lymphoma, acute myeloid leukemia (AML), and multiple myeloma.

Furthermore, ANTENGENE CORPORATION’s early-stage drug R&D team is continuously advancing the preclinical research and development of anti-tumor drugs, including small molecules, monoclonal antibodies, and bispecific antibodies.

ANTENGENE CORPORATION is a comprehensive biopharmaceutical company rooted in China, oriented towards the Asia-Pacific region, and strategically positioned globally. Integrating new drug development, clinical research, pharmaceutical manufacturing, and commercial sales, the company is dedicated to providing patients in China, other Asia-Pacific countries and regions, and around the world with cutting-edge innovative anti-tumor therapies featuring novel mechanisms of action. In April 2017, Celgene (now officially acquired by Bristol Myers Squibb, forming one of the world’s top ten pharmaceutical companies), a global leader in new drug development, became Antengene’s founding partner and investor. Within three years of its establishment, Antengene has built a robust pipeline comprising 12 innovative drug candidates at various clinical and preclinical stages, obtained seven clinical trial approvals, and initiated 10 multi-regional clinical trials across the Asia-Pacific region. Guided by the vision “Boundless Healing, Endless Innovation,” Antengene strives to address unmet clinical needs of patients in the Asia-Pacific region and worldwide through the specialized development and commercialization of first-in-class and best-in-class therapies. For more information, please visit www.antengene.com.

Fidelity’s mission is to inspire better futures and deliver better outcomes for the customers and businesses we serve. With assets under administration of $8.1 trillion, including discretionary assets of $3.3 trillion as of May 31, 2020, we focus on meeting the unique needs of a diverse set of customers: helping more than 32 million people invest their own life savings, 22,000 businesses manage employee benefit programs, as well as providing more than 13,500 institutions with investment and technology solutions to invest their own clients’ money. Privately held for more than 70 years, Fidelity employs more than 40,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about-fidelity/our-company.

GL Ventures is the venture capital fund under Hillhouse Capital that focuses on innovative companies. It primarily invests in four key sectors: biopharmaceuticals and medical devices, software services and original technological innovation, consumer internet and technology, and emerging consumer brands and services. Biopharmaceuticals and medical devices have long been a core investment focus for GL Ventures. With nearly 15 years of in-depth research experience, the fund has invested in more than 160 outstanding pharmaceutical and medical device companies, including BeiGene, Innovent Biologics, Junshi Biosciences, I-Mab, Pharmaron, NanoMicro Tech, Medcaptain, PINS Medical, PrimeCRO, Peijia Medical, MicroPort CardioFlow, and Venus Medtech. We aim to partner with our portfolio companies as “friends of time,” jointly driving innovation and development in the broader healthcare sector to benefit more patients.

Government of Singapore Investment Corporation (GIC) is a leading global investment company. Established in 1981, GIC was founded to manage Singapore’s foreign reserves, delivering long-term benefits for the nation and its people. As a long-term value investor, GIC leverages its unique advantages to invest broadly across major asset classes, including real estate, private equity, equities, and fixed income. In the private equity space, GIC collaborates with fund managers and corporate management teams to support business growth through fund investments or direct stakes in world-class companies worldwide. With investments in more than 40 countries, GIC has over two decades of experience investing in emerging markets. The company employs more than 1,500 staff across its headquarters in Singapore and ten offices located in major financial centers around the globe. For more information, please visit www.gic.com.sg.

Qiming Venture Partners was established in 2006 and has successively set up offices in Shanghai, Beijing, Suzhou, Shenzhen, Hong Kong, Seattle, Boston, and the San Francisco Bay Area. Currently, Qiming Venture Partners manages nine US dollar funds and five RMB funds, with total assets under management exceeding USD 5.3 billion. Since its inception, the firm has focused on investing in outstanding early-stage and growth-stage companies in sectors such as TMT and Healthcare. To date, Qiming Venture Partners has invested in more than 350 high-growth innovative enterprises, among which over 110 have achieved exits through listings on exchanges including the New York Stock Exchange, NASDAQ, the Hong Kong Stock Exchange, the Taipei Exchange, the Shanghai Stock Exchange, and the Shenzhen Stock Exchange, as well as through mergers and acquisitions. More than 30 of these portfolio companies have become industry-recognized unicorns and super unicorns. Many of Qiming Venture Partners’ portfolio companies have grown into the most influential firms in their respective fields, including Xiaomi Corporation (01810.HK), Meituan Dianping (03690.HK), Bilibili (NASDAQ: BILI), Roborock Technology (688169.SH), Gan & Lee Pharmaceuticals (603087.SH), Tigermed (300347.SZ), Zai Lab (NASDAQ: ZLAB), Venus Medtech (02500.HK), CanSino Biologics (06185.HK), Schrödinger (NASDAQ: SDGR), Sanyou Medical (688085.SH), AmoyDx (300685.SZ), Berry Genomics (000710.SZ), Sinocelltech (688520.SH), WeDoctor Group, and UBTECH.

Boyu Capital is one of the largest private equity investment firms in China. With offices in Beijing, Shanghai, and Hong Kong, Boyu provides long-term capital and operational advice to the best-managed and most innovative companies in the media/technology, healthcare, consumer/retail, and financial services industries.