Hifibio Therapeutics completes $67 million round C financing

HiFiBiO Therapeutics has announced the completion of round C of $67 million in financing. The round of financing was led by IDG Capital, with Kite Pharma, a subsidiary of Gilead, among the investors. HiFiBiO Therapeutics said it would use the current round of funding to expand its single-cell analysis platform and accelerate the development of new antibody drug pipelines for cancer and autoimmune diseases.HiFiBiO is a pioneer in the development of innovative biotherapies that mobilize the body's immune system to fight disease. The company combines biological expertise with its comprehensive single-cell analysis technology to identify and accelerate the development of a range of antibody drugs to treat cancer and autoimmune diseases. Using its unique immunoanalysis platform and drug intelligence science (DIS™) to target a more accurate subset of patients increases the likelihood of clinical trial success while reducing overall research and development time and costs, the company said. Several of its preclinical drug candidates have been conceptually validated in animal models.Since completing round B financing of $37.5 million in May 2018, HiFiBiO has reached several important milestones, including:In July 2018, it reached a multi-target antibody drug discovery agreement with Takeda. Under the agreement, Takeda will use HiFiBiO's new single B-cell anti-system preparation technology (CelliGO™) to develop breakthrough antibody drugs to treat diseases such as gastrointestinal and cancer.In October 2018, a research cooperation agreement was reached with Kite Pharma to develop technologies to support the discovery of new antigen reactive T-cells (TCR) for the treatment of a variety of cancers, including solid tumors.Also in October, H-Immune Therapeutics was acquired. Founded at the end of 2016 as a derivative of the French Atomic Energy Commission, H-Immune has created a unique human antibody generation platform (IVI) based on in vitro immunity, which is an effective complement to HiFiBiO's single-cell platform. (Creating a foreign exchange)