Sanger spin-out secures $100 million
Sanger Institute spin-out company, Kymab, has secured US $100 million (£81million) series C financing today (24 November). The company is founded on genetic technologies developed at the Wellcome Trust Sanger Institute by Professor Allan Bradley.
Kymab is focused on discovering, developing and delivering new monoclonal antibody medicines to treat a variety of diseases. So far, the company has joined up with the Wellcome Trust, the Bill and Melinda Gates Foundation and Heptares to develop antibody-based medicines to fight infectious diseases, cancer and haematological disorders, as well as progress vaccine development for neglected diseases that affect populations in the developing world.
“Kymab is a truly innovative company that we are rightly proud of. The technology was developed at the Wellcome Sanger Institute by Professor Allan Bradley and, with the support of both the Sanger Institute and the Wellcome Trust, the enterprise has grown into a global success story, partnering with companies and organisations around the world to develop transformative medicines and approaches to many of the major diseases facing the world today.”
Adrian Ibrahim Head of Innovation at the Wellcome Trust Sanger Institute
Professor Bradley’s team used chromosome engineering to insert the entire diversity of the B lymphocyte component of the human immune system into a genomically engineered mouse. The resulting KymouseTM has 5.4 million bases of human DNA (representing 0.1 per cent of the human genome) into the appropriate place in the mouse genome. Because of this it is able generate human monoclonal antibodies to a range of important diseases, from which Kymab is developing a range of antibody-based therapeutics.
“I am delighted that we have been able to take the first fruits of our basic research at the Sanger Institute and, with commercial support, develop it into fully-fledged technology that aims to deliver novel treatments. In 2017 the first of our human monoclonal antibodies will be starting human clinical trials.”
Professor Allan Bradley Founder and Chief Scientific Officer of Kymab, and Director Emeritus of the Sanger Institute
The financing was led by new investors ORI Healthcare Fund L.P. with participation by Shenzhen Hepalink Pharmaceutical Co., as well as follow-on investments from existing shareholders: Wellcome Trust, Bill & Melinda Gates Foundation; Malin Corporation plc; CF Woodford Equity Income Fund and Woodford Patient Capital plc.
“We are delighted to welcome new investors ORI Fund and Hepalink and thank our existing investors for their continued support in our goal of building Kymab into a sustainable global biopharmaceutical company with a pipeline of products in four main therapeutic areas: immuno-oncology; auto-immunity; haematology and infectious disease. ORI Fund and Hepalink bring deep experience of the pharmaceutical industry. Hepalink has a global reach for their products and have biologics manufacturing capability in the US. This investment will help us maximise the potential of the Kymab pipeline as we develop and commercialise monoclonal antibody medicines for patients world-wide.”
Dr Dave Chiswell CEO of Kymab
“We are very fortunate to have the opportunity to invest in Kymab which is equipped with world class technologies, world class programs, a world class team and world class investors. We look forward to working with Dave and his team to fully realise the potential of Kymab as it enters into the clinic with a global presence.”
Ms Simone Song Senior Partner of ORI Fund
“We have had a biologics strategy for a number of years and believe Kymab has one of the most comprehensive humanised transgenic antibody platforms which is already delivering first-in-class antibodies. We are pleased to invest in a world leading antibody company and look forward to potential collaborative opportunities with Kymab.”
Mr Li Li President and Chairman of Hepalink
Antibodies are one of the best-selling classes of drugs today; five of the top ten best selling drugs are antibodies. This is because antibodies are natural products with exquisite specificity and potency, and generally have superior safety profiles. The challenge has been to capture the full human antibody repertoire and to recapitulate all its attributes.
More information
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About Kymab
Kymab Group Limited (“Kymab”) is a leading biopharmaceutical group focused on the discovery and development of fully human monoclonal antibody drugs using its proprietary Kymouse antibody platform.
Kymouse has been designed to maximise the diversity of human antibodies produced in response to immunisation with antigens. Selecting from a broad diversity of fully human antibodies assures the highest probability of finding that rare drug candidate with best-in-class characteristics. The Kymouse naturally matures these molecules to highly potent drugs obviating the need for further time-consuming modifications. Kymab is using the platform for its internal drug discovery programmes and in partnership with pharmaceutical companies. Kymab commenced operations in 2010 and has raised over US$220m of equity financing which includes $100m Series C financing. It has an experienced management team with a successful track record in drug discovery and development and has numerous therapeutic antibody programmes in immuno-oncology, auto-immunity, haematology, infectious disease and other areas.
About ORI Healthcare Fund (ORI Fund)
ORI Fund is a US$200 million venture capital fund focused on investing in innovative companies with disruptive technologies in the healthcare industry globally. The fund is founded by Ms. Simone (Hong Fang) Song, former investment banker and head of China.
Healthcare at Goldman Sachs. The team consists mostly of former Goldman Sachs bankers and healthcare scientists.
About Shenzhen Hepalink Pharmaceutical Co., Ltd (Hepalink)
Hepalink distributes its products, including Heparin Sodium API, in the global market to international pharmaceutical companies, such as Sanofi-Aventis, Fresenius-Kabi, and Novartis. Hepalink was established in 1998 and went public and was listed on the Shenzhen Stock Exchange on May 6, 2010 (stock code "002399"). Hepalink’s headquarters are located in the Shenzhen High-Tech Park. Hepalink has established a comprehensive quality management system in line with China GMP standards and the US and European cGMP standards and regulations. Hepalink manufacturing facilities are approved by the U.S. FDA and EU regulatory authorities, and it is also one of the primary participants in the revision of the USP pharmacopeia standards.
Wellcome Trust Sanger Institute
The Wellcome Trust Sanger Institute is one of the world’s leading genome centres. Through its ability to conduct research at scale, it is able to engage in bold and long-term exploratory projects that are designed to influence and empower medical science globally. Institute research findings, generated through its own research programmes and through its leading role in international consortia, are being used to develop new diagnostics and treatments for human disease.
Wellcome
Wellcome exists to improve health for everyone by helping great ideas to thrive. We’re a global charitable foundation, both politically and financially independent. We support scientists and researchers, take on big problems, fuel imaginations and spark debate.
