AUM Biosciences CEO and co-founder Vishal Doshi
AUM Biosciences, a Singapore-based global clinical-stage biotech company, has completed its US$27 million Series A financing round.
The round was co-led by Singapore-based Everlife (an analytical, medical and lab devices market access and distribution platform) and health sciences VC firm SPRIM Global Investments.
Upon receiving the funding, AUM will expedite the clinical development and business growth of oncology therapies, particularly for cancers with a clear genetic marker.
According to a press statement, the proceeds from this round will be used to immediately initiate the startup’s phase II programmes for oncology drugs — MNK and TRK inhibitors.
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Founded in 2018 by industry veterans Vishal Doshi (CEO) and Harish Dave (CMO), AUM develops innovative and affordable oncology therapeutics for Asia. It focuses on drugging what might be considered the undruggable targets and addresses the need to delay and overcome resistance to targeted drugs in oncology.
AUM claims that it has clocked annual peak sales up to US$3 billion, contributing to the development of several currently marketed oncology treatments.
Leveraging its in-house research capabilities, the firm leads a multi-modality lineup of small molecule targeted therapies — one antibody-drug conjugate (ADC) and four biologics.
Earlier this year, AUM formed a strategic collaboration with two Korea-based pharmaceuticals manufacturers — Handok and CMG Pharmaceutical. It also seeks more strategic associations in the coming two quarters, with an upcoming partnership with Singapore’s healthcare company MSD and Handoc.
AUM Biosciences and Newsoara Biopharma also announced a 5-year transformational strategic partnership in 2020 to co-develop and co-discover next-generation cancer therapeutics.
The pandemic has been a boon for Singapore’s biotech startups, which attracted total funding of US$360 million only during the first half of 2021.
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Image credit: AUM
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