Engine Biosciences raises $57m in oversubscribed series A funding round | Singapore Business Review

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.

Get Singapore Business Review in your inbox
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

All of its key businesses were profitable in the first six months of the year.
Singtel, Keppel Corp, and OCBC Bank led the Straits Times Index on 29 July.
There seems to be a trend amongst workers looking to switch employers.
Total property income decreased by 4% but was offset by the decline in expenses. 
This is under the Special Situation Fund for Startups investment scheme. 
Called Project Nexus, the blueprint outlines how countries can integrate their retail payment systems onto a single cross-border network.
It plans to expand in the coming months, on the back of China’s economic recovery.
Funds will be used to modernise its portfolio.
Local financial firms are expected to remain resilient even should the economy slip into a recession again.
The Mapletree group of companies led the index on 28 July.