May 28 Financial Quick Takes: Alphamab Oncology raises $60M; plus $180.5M for Panacea healthcare fund and more

Hudson Bay leads Alphamab Oncology's $60M series B

Alphamab Oncology (Cayman) raised $60 million in a series B round led by Hudson Bay Capital, with participation from new investor and entrepreneur Adrian Cheng and existing investors China Venture Capital Fund, PAG and Advantech Capital. The company plans to use the funds for a new R&D and manufacturing site and to support its pipeline of biologics, including commercialization of lead product KN035, a subcutaneous PD-L1 inhibitor in Phase II/III testing for multiple cancers. In November, Chairman and CEO Ting Xu told BioCentury the company plans to launch the product in China in 2020, followed by a global or US launch in 2021 (see "Alphamab’s Cancer Cash")...