Based in Cambridge, Massachusetts, the Netherlands and China, Harbour BioMed said it will use the funding from its Series B+ round to continue the clinical trials and research of its various drug candidates, which include treatments for tumors, autoimmune diseases and dry eye disease, it said. The company has now raised more than $200 million in total financing, an executive said.
Last week, Harbour and Mount Sinai Health System announced a partnership to develop drug therapies for various diseases, in particular for a treatment or preventative regimen for the coronavirus, which some of the latest funding could go toward, Harbour's Atul Deshpande told Law360.
"This round of funding will contribute significantly towards key clinical milestones and pipeline advancement in bringing new next-generation therapeutics to address unmet patient needs across the world," he said.
Harbour called this round its Series B+ because it's a result of the continuation of conversations with investors who were unable to be involved in its Series B round in August 2018, Deshpande said.
Harbour's new investors for its B+ round include SK Holdings Co. Ltd., Efung Capital and Zheshang Venture Capital Co Ltd., it said, all of which joined existing investors such as Legend Capital, AdvanTech and GIC Private Ltd., Singapore's sovereign wealth fund.
After meeting its initial $50 million fundraising goal after Harbour was founded in 2016, the company acquired Netherlands-based Harbour Antibodies BV, one of the few companies that owned technologies using mice for antibody treatments. Harbour then integrated mice technologies into its antibody technology to begin clinical testing.
Counsel information for the investment announced Thursday was not immediately available.
--Additional reporting by Kevin Stawicki. Editing by Amy Rowe.
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