IPO • Life Science

HBM Partners, DCP Capital, WuXi AppTec and Fosun Pharma Exits Ambrx

On June 18, 2021, invested in life science company Ambrx from HBM Partners, DCP Capital, WuXi AppTec and Fosun Pharma

Investment Context
  • This is transaction in the Life Science sector.
  • This is transaction in the United States.
  • This is transaction in California.
Investment Fate
  • Ambrx was sold to a strategic buyer in 2024 for 2.0B USD.

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Investment Summary

Date June 18, 2021
Target Ambrx
Sector Life Science
Sellers(s) HBM Partners
DCP Capital
WuXi AppTec
Fosun Pharma
Deal Type IPO

Target Company

Ambrx

San Diego, California, United States
Ambrx is a clinical-stage biopharmaceutical company with a proprietary synthetic biology technology platform to design and develop next-generation antibody-drug conjugates (ADCs). The company is advancing a focused portfolio of clinical and preclinical programs designed to optimize efficacy and safety of its candidate therapeutics in multiple cancer indications, including ARX517, its proprietary ADC targeting PSMA for metastatic castration-resistant prostate cancer (mCRPC); ARX788, its proprietary ADC targeting human epidermal growth factor receptor 2 (HER2) for metastatic HER2+ breast cancer; and ARX305, its proprietary ADC targeting CD-70 for renal cell carcinoma. Ambrx was founded in 2003 and is based in San Diego, California.
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Seller Profiles 4

SELLER

HBM Partners

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2001
PE ASSETS 2.1B USD
Size Large
Type Sector Focused
DESCRIPTION

HBM Partners is a private investment firm focused on investing in entrepreneurial biopharma and other healthcare-related companies in Europe, North America, India and other Emerging Markets. HBM looks to invest $5 to $50 million per transaction and will consider private and public companies. HBM Partners was established in 2001 and is headquartered in Zug, Switzerland.


Deal Context for Seller #
Overall 26 of 40
Sector: Life Science 24 of 35
Type: IPO 22 of 30
State: California 6 of 9
Country: United States 19 of 27
Year: 2021 8 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 Tata 1mg

New Delhi, India

Tata 1mg is an online pharmacy network and medicine search engine that allows users to order medicines and book for diagnostic test. Tata 1mg was founded in 2012 and is based in New Delhi, New Delhi.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Monte Rosa Therapeutics

Boston, Massachusetts, United States

Monte Rosa Therapeutics is a biotechnology company developing molecular glues to degrade disease-causing proteins. The company has developed a platform to rationally design small molecules that reprogram ubiquitin ligases to eliminate disease drivers previously deemed undruggable. The company’s drug discovery platform combines diverse and proprietary chemical libraries of small molecule protein degraders with in-house proteomics, structural biology, machine learning-based target selection, and computational chemistry capabilities to predict and obtain protein degradation profiles. Monte Rosa Therapeutics was founded in 2018 and is based in Boston, Massachusetts.

Sell -
DESCRIPTION

DCP is a private equity firm focused on long-term partnerships with management teams in companies across Asia. The Firm seeks businesses with growth potential in a variety of industries including business services, consumer products, distribution, food, manufacturing, financial services, real estate, and staffing. DCP is headquartered in Beijing, China.


Deal Context for Seller #
Overall 2 of 4
Sector: Life Science 1 of 1
Type: IPO 2 of 3
State: California 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-07 Dejin Medical

Hangzhou, China

Dejin Medical is focusing on the research and development of related treatment technologies for mitral and tricuspid valves. Dejin Medical was founded in 2015 and is based in Hangzhou, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-21 51job

Shanghai, China

51job is a provider of integrated human resource services in China. With a comprehensive suite of HR solutions, 51job meets the needs of enterprises and job seekers through the entire talent management cycle, from initial recruitment to employee retention and career development. 51job was founded in 1998 and is based in Shanghai, China.

Buy $5.7B
SELLER

WuXi AppTec

Shanghai, China

Category Company
Founded 2000
Sector Life Science
Employees37,832
Revenue 39.2B CNY (2024)
DESCRIPTION

WuXi AppTec is a provider of pharmaceutical, biotechnology, and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi AppTec was founded in 2000 and is based in Shanghai, China.


Deal Context for Seller #
Overall 1 of 4
Sector: Life Science 1 of 4
Type: IPO 1 of 2
State: California 1 of 1
Country: United States 1 of 2
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 OXGENE

Oxford, United Kingdom

OXGENE provides end-to-end contractual services to cell and gene therapy companies seeking to discover, develop, manufacture and test innovative drugs at scale for global commercialization. OXGENE provides rapid and cost-effective services using proprietary technologies and automation platforms for molecular discovery and integrating the full range of technologies required to manufacture cell and gene therapies. OXGENE was founded in 2011 and is based in Oxford, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-10 CANbridge

Suzhou, China

CANbridge is a biotechnology company focused on developing and commercializing rare disease therapeutics in China. CANbridge was founded in 2012 and is based in Suzhou, China.

Sell -
SELLER

Fosun Pharma

Shanghai, China

Category Company
Founded 1994
Sector Healthcare Services
Employees40,234
Revenue 41.1B CNY (2024)
DESCRIPTION

Fosun Pharma is a healthcare company in China that strategically covers important segments of the healthcare industry value chain, including pharmaceutical manufacturing, pharmaceutical distribution and retail, healthcare services, diagnostic products, and medical devices. Fosun Pharma was founded in 1994 and is based in Shanghai, China.


Deal Context for Seller #
Overall 1 of 1
Sector: Life Science 1 of 1
Type: IPO 1 of 1
State: California 1 of 1
Country: United States 1 of 1
Year: 2021 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-14 Tridem Pharma

Escalquens, France

Tridem Pharma is specialized in the distribution of drugs, medical promotion and regulatory affairs in the French-speaking African countries and territories. Tridem Pharma was founded in 1986 and is based in Escalquens, France.

Buy -