ARTICLE | Deals
The dealmaking at the heart of the NewCo boom
Formed with Hummingbird assets, $187M, Callio brings trend to Singapore
March 3, 2025 2:07 PM UTC
The latest NewCo deal — built on ADCs from Hummingbird and a nine-digit venture round from a global syndicate of 10 investors — expands the model to Singapore and adds momentum to a trend already moving at galloping speed, with 11 biotechs formed in little over a year.
The partnership, which was announced as the BioCentury-BayHelix East-West Summit began in Singapore on Monday, adds two more prominent Western VCs in Frazier Life Sciences and Jeito Capital and a pair of leading investors from Singapore, ClavystBio and EDBI, to the cohort of firms building companies via the model. That group of investors now stands at 63...