Engine Biosciences raises $57m in oversubscribed series A funding round
It is the largest ever for a biotech company in Singapore.
Biotech company Engine Biosciences has raised $57m after successfully competing an oversized Series A funding round.
This round was led by Polaris Partners and also included new investors Invus and one of the world’s premier institutional investors, based in Singapore. Existing investors also participated in the Series A, which included 6 Dimensions Capital, WuXi AppTec, DHVC, EDBI, Baidu Ventures, Vectr Ventures, Goodman Capital, WI Harper, and Nest.Bio.
“We are honored that this preeminent group of life science and technology investors has recognized the progress our team has made and is supporting our mission to unleash new medicines by deciphering biology,” said Jeffrey Lu, Engine Biosciences’ Co-Founder and chief executive officer.
Engine has already been progressing its novel biology findings into drug discovery programs and proprietary small molecule inhibitors. It will utilize the new funds to expand its portfolio of precision oncology therapeutics, prepare for its first clinical programs, and scale its proprietary technology platform.
Engine Biosciences is a venture-backed Singapore- and Silicon Valley-based company deciphering complex biology to unleash many impactful medicines.