Hummingbird Bioscience, a startup focused on developing new treatments for cancer and other diseases, announced today it has added $6 million to its previously announced Series B, bringing the round’s total to $25 million.
The extension was led by SK Holdings, and included participation from returning investors including Heritas Capital and SEEDS Capital, the investment arm of Enterprise Singapore, a government agency that supports small- to medium-sized businesses.
This brings Hummingbird Bioscience’s total raised so far to $65 million. The company says it extended its Series B because the round was oversubscribed. The new funding will be used to take treatments Hummingbird Bioscience is developing to clinical trials more quickly, and expand research and development for its early stage pipeline.
Heritas Capital Management executive director and CEO Chik Wai Chiew said in a press statement that "Heritas Capital is pleased to continue our backing of the Hummingbird team since leading its Series A extended round. Even as the COVID-19 pandemic has resulted in a slow-down in investing, we are mindful that backing innovative biotech companies, especially players such as Hummingbird, to develop cures for addressing patients’ needs remains our priority."
The company published data earlier this year on two antibodies, both oncology treatments, and expects to make regulatory submissions to start Phase 1 studies in the second half of this year.
Hummingbird Bioscience has offices in Singapore, Houston and South San Francisco and strategic collaborations with Cancer Research United Kingdom and Amgen. It was previously awarded a product development grant from the Cancer Prevention and Research Institute of Texas.