January 8th,2021, Shanghai—Abbisko Therapeutics Co., Ltd. announced the recent completion of its Series D financing of $123 million. This investment was led by The Carlyle Group, with Warburg Pincus, OrbiMed, Lake Bleu Capital, and a Boston-based investor as the joint leading investors. Janchor Partners, Sage Partners, SHC, Greater Bay Area Homeland Development Fund and another strategic investor, as well as existing investors including Lilly Asia Ventures, Temasek Holdings, Qiming Venture Partners, Hankang Capital and CICC Capital also joined. This round of financing brought the total capital that Abbisko has raised to $263 million. The proceeds from this round will be used to accelerate the progress of the Company’s clinical programs and further expand its preclinical pipeline consisting of multiple programs in discovery to IND-enabling stages.
Founded in April 2016, Abbisko is an oncology focused biopharmaceutical company dedicated to the discovery and development of innovative medicines for unmet medical needs in China and around the world. The company is founded by a group of seasoned drug hunters with rich research and managerial experience from top multinational pharmaceutical companies and Chinese industrial leaders. Abbisko is currently focused on targeted therapy and immune-oncology areas with targets of high novelty and potential to discover and develop first-in-class or best-in-class small molecule drugs.
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 30 offices across six continents.
Founded in 1966, Warburg Pincus is a leading global private equity firm. Since inception, Warburg Pincus has successfully raised 19 funds, and has invested over $86bn in more than 910 companies globally.