Brii Biosciences, a China-based infectious disease therapeutics developer backed by pharmaceutical firm WuXi AppTec, secured $155m on Tuesday for the close of a series C round that was led by investment manager Invesco’s Developing Markets Fund.
Singaporean sovereign wealth fund GIC also took part in the round alongside Lake Bleu Capital, an unnamed global investment manager, an undisclosed Asia-based investment manager and three unspecified existing backers.
Founded in 2018, Brii Biosciences is developing treatments for health conditions that cause significant public health burdens, such as infectious diseases, liver diseases and central nervous system (CNS) diseases.
The company’s product pipeline includes programmes addressing conditions including HIV, hepatitis B and covid 19. It will use the funding to advance the progression of its infectious diseases pipeline and a CNS programme, in the United States and China.
In August 2020, Bloomberg reported Brii Biosciences was considering an initial public offering in Hong Kong that could raise between $200m and $400m, according to people familiar with the matter.
Brii Biosciences launched in 2018 with $260m from investors including 6 Dimensions Capital, an investment firm co-founded by WuXi AppTec and venture capital firm Frontline BioVentures, in addition to Arch Venture Partners, Sequoia Capital, Boyu Capital, Yunfeng Capital and Blue Pool Capital.