The world leader in tumor immunotherapy—Oncologie—has just received USD80 million through its series B financing round. The round was led by Nan Fung Life Sciences and Pivotal BioVentures China. Follow investors included Panacea Ventures, Hualing Capital, Zheshang Industrial Integration Holdings, Jiuyou Fund, Volcanics Ventures, Korea Investment Partners and KB Investment.
CEC Capital served as the chief financial adviser to Oncologie during this round of financing.
Oncologie Ltd. is a global leader in the field of innovative medicine focused on immunotherapy. It currently has three clinical products for liver cancer, gastric cancer, lung cancer, melanoma, and other solid malignancies. This B round of financing will be used to strengthen the company’s multiple innovative global clinical research programs while developing corresponding new biomarkers. Leveraging recent regulatory changes in China, Oncologie is about to launch phase two clinical studies for its gastric cancer product in the US, Korea, the EU, and Taiwan. Oncologie is also rolling out clinical trials in China for products targeting other solid malignancies.
At present, China’s innovative pharmaceutical companies—especially those adopting the in-licensing development model—have developed to a new maturity. Most of the first-generation in-licensed companies brought products rights to China (or Greater China) from large multinational pharma companies. However, with the introduction of a series of important regulatory policies, China’s biomedical market has been transformed. In the future, innovative pharma companies will need to target domestic and foreign markets in order to succeed. The demonstrated success of Oncologie is representative of these new trends. Oncologie’s product pipeline reflects the interests of the global community. Furthermore, Oncologie is pioneering new development paths as its team of experts engage in parallel clinical studies in China and overseas.
Oncologie’s team of founders consists of world-leading entrepreneurs and scientists, attracting investors from the US, China, and Korea. Oncologie’s success also demonstrates that the investment strategy of venture capital funds in Greater China has become more in sync with those abroad. Investors of Greater China that once focused on connecting with foreign and domestic Chinese entrepreneurs now focus on finding the best possible team of entrepreneurs to take advantage of the resources and capital available in Greater China. The overall goal is to close the gap between foreign and Chinese pharmaceutical companies while solving the problems faced by clinical medical experts around the world.
Dr. Laura E. Benjamin, Co-founder and CEO of Oncologie, explained: “Oncologie is an innovative pharmaceutical company that is developing best-in-class cancer drugs through clinical study operations based in various countries around the world with commercial sales primarily targeting the China market. Investors’ support has been very important to the rapid growth of Oncologie. We are excited by the strong commitment and support from investors such as Nan Fung Life Sciences and Pivotal BioVentures China. This funding will be used to accelerate the development of our innovative pipeline and enable us to make a difference in the lives of cancer patients worldwide. We have a team of experienced multinational pharmaceutical experts and a global drug development platform. There is a huge market for combination therapy because of its ability to improve the effectiveness of immunotherapy for cancer patients. We hope to develop novel cancer treatments for patients around the world.”
Dr. Jimmy Wei, Managing Partner of Pivotal BioVentures China explained: “Immunotherapy is a hot field for Pivotal BioVentures. We are impressed by the combination therapy products and development trajectory of Oncologie. Their product pipeline includes important IP that guarantees a certain international competitive advantage. In the past year, Oncologie has made breakthroughs in its R&D of biomarkers. The Oncologie team is also a uniquely international team with innovative talents from around the world with backgrounds in pharmaceuticals and academia. I am very pleased to cooperate with the Oncologie team and Dr. Laura Benjamin especially. Pivotal BioVentures will provide Oncologie with capital and resources to accelerate its development so that its products can be delivered more quickly to patients in need.”
Irene Hong, Partner of CEC Capital, explained: “Oncologie is one of the few innovative pharmaceutical companies in the world with an internationally competitive edge as it leads the way in novel drug development. Their products show high levels of viability and target enormous markets. At the same time, Oncologie has an excellent international team with strong capabilities and resources for international business development. In spite of the overall market trends, it’s no wonder that Oncologie was able to secure funding from such a strong group of investors. CEC Capital focuses on helping leading companies in all segments of the medical industry to grow. CEC Capital has helped a wide range of clients successfully grow bigger. We will support mutually beneficial outcomes for top enterprises and first-class investment institutions so as to promote the long-term healthy development of the medical industry. CEC Capital is very honored to help Oncologie to close this round of financing. We are confident that Oncologie will grow to become a leader of the global pharmaceutical industry.”