US-based biotherapy developer HifiBio Therapeutics raised $75m in series D funding yesterday from investors including Legend Star, a corporate venturing subsidiary of conglomerate Legend Holdings.
Financial services and investment group Mirae Asset Financial Group led the round, which included B Capital Group, Sherpa, Maison Capital, Trinity Innovation Fund, Grand Mount, HKSTP Venture Fund, IDG Capital, Sequoia Capital and Hengxu Capital.
Founded in 2013, HifiBio is working on antibody treatments for patients suffering from cancer or autoimmune diseases, combining biological know-how with single-cell sequencing techniques to develop innovative drugs.
Legend Star and immunotherapy developer Kite Pharma took part in a $67m series C round for the company in mid-2019 that was led by IDG Capital and also backed by Sequoia Capital China, VI Ventures, Lyfe Capital, Delian Capital and Hanne Capital.
Legend Star had already contributed to HifiBio’s $37.5m series B round the year before. It was co-led by Sequoia Capital China and Lyfe Capital and included Proxima Ventures, VI Ventures and Nest.Bio Ventures, the last two having also chipped into a series A round of undisclosed size at an unspecified date.
