Hummingbird Bioscience bags $35.3m in series B funding round

SK Holdings led the series B extension as a new investor.

Biotherapeutics company, Hummingbird Bioscience, has closed an extended series B funding round of $35.3m (US$25m), according to an announcement, bringing the company's total capital raised through financing activities and strategic partnerships to more than $91.78m (US$65m).

SK Holdings led the series B extension as a new investor, with participation from existing shareholders, including Heritas Capital and SEEDS Capital, the investment arm of Enterprise Singapore.

The extension of the series B round to $35.3m (US$25m) is said to be due to over-subscription, with the addition of select quality and value-add investors.

Hummingbird will use the new funds to accelerate development of new candidates into clinical trials and strengthen its scientific and research and development capabilities.

Earlier this year, Hummingbird announced publication of positive data on its lead candidate, HMBD-001, a unique HER3 antibody, and manufacturing of HMBD-002, a first-in-class VISTA antibody. Regulatory submissions to initiate Phase I studies for these are expected in H2 2020.