Heritas Capital continues backing Hummingbird Bioscience for its Series C round together with SEEDS Capital

Heritas Capital continues backing Hummingbird Bioscience for its Series C round together with SEEDS Capital

Heritas Capital is pleased to participate, together with SEEDS Capital, in Hummingbird Bioscience’s successful closing of its US$125m Series C financing round led by Novo Holdings alongside other investors including Frazier Healthcare Partners, Octagon Capital, EDBI, AMGEN Ventures, DROIA Ventures, Morningside Ventures, Pureos Bioventures, Polaris Partners, Affinity Asset Advisors, Ally Bridge Group and Altrium Capital Management.

Heritas Capital first led the extended Series A round in 2019 with SEEDS Capital as co-investor given our strong conviction of the founders’ leadership and promising potential to continually generate strong pipeline of antibody candidates.

Since then, the company has achieved several significant milestones including securing joint development grant with Cancer Research UK (CRUK) in addition to the US$13.1m product development grant by the Cancer Prevention and Research Institute of Texas (CPRIT), and the multi-target strategic collaboration with Amgen to co-discover novel antibody therapeutics. On the back of these achievements, it successfully raised subsequent Series B round end-2019 and Series B extension mid-2020 respectively. Heritas Capital, together with SEEDS Capital, participated in both rounds.

“Our heartiest congratulations to Piers, Jerome and entire Hummingbird team for successfully raising yet another significant funding round to progress the leading candidates towards benefitting patients with unmet needs. Together with SEEDS Capital, Heritas has led Hummingbird’s extended Series A round and continued follow-on funding at Series B and B extension. We are pleased to participate again in the current round – providing funding for the fourth time within 2 years – demonstrating the conviction and commitment of Heritas and SEEDS Capital to back promising Singapore-based innovative biotech ventures towards successful commercialisation,” said Chik Wai Chiew, Executive Director and CEO of Heritas Capital.

Heritas Capital’s investment of Series A and B earlier was made through Heritas Venture Fund I while the current Series C round is invested through Heritas Helios Fund II, a growth stage fund managed by Heritas Capital.