Biotherapeutics startup Hummingbird Bioscience extends its Series B funding, closes US$25M from SK Holdings
Hummingbird Bioscience, a Singapore-operated biotherapeutics company that focusses on the discovery and development of new breakthrough therapies, has closed an extended Series B funding round of US$25 million led by SK Holdings, with participation from existing shareholders including Heritas Capital and SEEDS Capital, the investment arm of Enterprise Singapore.
This brings the total capital raised through financing activities and strategic partnerships to more than US$65 million to date. Hummingbird said it will use the new funds to accelerate the development of new candidates into clinical trials and strengthen the scientific and research and development capabilities.
“Hummingbird is building a strong portfolio of promising new therapies that we believe can deliver very meaningful benefits for patients across a broad spectrum of disease. These new funds give us further resources to develop our early-stage pipeline, and support the clinical development of our lead programs,” said Dr Piers Ingram, Chief Executive Officer, and co-founder, Hummingbird Bioscience.
Decentralised Finance (DeFi) provider startup General Protocols raises over US$1M in seed funding round to develop bitcoin-based DeFi products
Singapore-based Decentralised Finance (DeFi) provider General Protocols closed more than US$1 million in funding, which the company said will be used for the development of DeFi products based on Bitcoin Cash (BCH). According to an article in Read Cash, the funding came from cryptocurrency trader Marc De Mesel and BCH thought leader Molecular.
General Protocols said that it plans to grow its Bitcoin Cash (BCH) smart contract derivative product AnyHedge, scale its engineering teams, and expand its operations globally.
Also Read: Indonesia detains ex-MatahariMall Chairman over alleged money laundering
General Protocols also welcomed Rosco Kalis from Pandacash, who’s also the creator of a smart contract scripting language CashScript during a stint in Bitcoin.com. It also welcomes Marcel Chu -a former PR and Feature Editor in Bitcoin.com- into the team, who will build and manage business relationships and also develop the critical pool of demand for both sides of the AnyHedge contract.
Ex-Matahari Mall Chairman Emirsyah Satar to face eight years jail time for bribery, money laundering
Ex-chairman of Indonesian e-commerce Matahari Mall who’s also the former President Director of commercial airlines Garuda Indonesia Emirsyah Satar has been sentenced to eight years for receiving bribery from British engineering company Rolls-Royce in connection with the procurement of aircraft parts and from European aviation giant Airbus in connection with aircraft procurement and money laundering.
As reported by The Jakarta Post, Satar received his sentence during an online trial on Friday, May 8. The Jakarta Corruption Court sentenced Satar after finding him guilty of accepting US$3.4 million in bribes and laundering US$5.9 million related to aircraft procurement. In total, Satar has received five separate occasions of bribery.
The court has also fined Satar US$67,000 and ordered US$1.5 million in restitution.
The anti-graft body also named former Garuda engineering and management director Hadinoto Soedigno and former Garuda executive project manager Agus Wahjudo as Emirsyah’s co-conspirators under the bribery charge.
The KPK accused Emirsyah of laundering Rp 87.4 billion through multiple channels and also implicated Soetikno Soedarjo, the former president director of the diversified retail holding company PT Mugi Rekso Abadi who is guilty of bribing Satar as well as contributing to the money laundering committed by the former Matahari Mall’s Chairman.
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Photo by Bill Oxford on Unsplash
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