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Hummingbird Bioscience takes $19 million in Series B round

Hummingbird Bioscience secures US$19 million in its recently held Series B funding round led by Mirae Asset Venture Investment and GNTech Venture Capital.

Hummingbird Bioscience is an innovative therapeutics company with a proprietary rational antibody discovery platform and deep experience in applying integrative genomics and proteomics.

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Hummingbird secures a $19 million in its Series B funding round led by Mirae Asset Venture Investment, a venture that specializes in enterprise and provides technology, funding and management consulting, and GNTech Venture Capital, a corporate investment company that invests in electronic companies.

According to the bioscience company, it will use the proceeds to support the discovery of new disease targets, expand its pipeline of antibody therapeutics, and fuel co-discovery projects with biopharmaceutical firm Amgen.

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Hummingbird develops precision therapeutic antibodies to clinical proof-of-concept for patients with the highest unmet need. The company has a pipeline of first or best-in-class drug candidates.

“With our world-class team of cancer biology experts, multiple-omics and data science technologies, Hummingbird Bioscience is at the cutting-edge of scientific discovery. The support from our strategic investors is a strong endorsement of our translational science and transformative vision for the future of drug development,” said Piers Ingram, Hummingbirds co-founder and CEO.

“We will continue to execute on rapidly building our pipeline of potential medicines across different disease modalities to help treat and inspire hope for people living with cancer and other conditions,” Ingram further added.

The fundings bring a total of US$60 million in funding to Hummingbird.

Jae Joon Kim, Managing Director at Mirae Asset Venture Investment said, “Hummingbird Bioscience has invented a differentiated rational antibody discovery platform that designs and generates candidate therapeutic antibodies against difficult yet desirable targets. We are optimistic about the company’s potential to create breakthrough therapies that impact the lives of patients living with serious illnesses. We are delighted to work with Hummingbird Bioscience’s proven management team and investor syndicates.”

Delian Capital, DAValue-GiltEdge, HB Investment, Heritas Capital, Seed Capital, Mirae Asset Capital, Wooshin Venture Investment, and Kiwoom Investment-Shinhan Capital also participated in the said round.