Legend Capital in Conjunction with Innovent and UOBVM Lead a New Round of Investment in Etana

The funds will be used to expand the company's production, clinical, registration, and commercialization capabilities, as well as promote the firm's comprehensive and in-depth collaboration with biopharmaceutical companies and lead the development of the Indonesian biopharmaceutical industry.

FREMONT, CA: Legend Capital, Innovent Biologics, and a consortium led by UOB Venture Management (UOBVM) led a fresh round of investment in PT Etana Biotechnologies Indonesia (Etana), an Indonesian biopharmaceutical company. This round of funding will be utilized to expand the company's production, clinical, registration, and commercialization capabilities, promote the firm's comprehensive and in-depth collaboration with biopharmaceutical businesses, and lead the Indonesian biopharmaceutical industry's development.

"Etana, as an Indonesian biopharmaceutical start-up, always strive to provide high quality, affordable and innovative biopharmaceutical products to serve the patients in Indonesia and South-East Asian countries. We will use the support obtained from the investors to develop local biopharmaceutical production capabilities in line with the policies promoted by the Indonesian government. Etana aims to tackle challenges in oncology and other life-threatening diseases for the South-East Asian market. 

We believe these biological products can provide better treatment and greatly improve healthcare for the population," stated Nathan Tirtana, President Director of Etana stated.

Seah Kian Wee, the CEO and Managing Director of UOB Venture Management, said, "We are pleased to be able to support Etana in its efforts to improve the lives of Indonesians through the development of biological medicine using advanced technology. At UOBVM, we have built a deep understanding of ASEAN and its diverse business landscape through our 20 years of experience facilitating the growth of promising private companies through direct equity investments. Building on our regional expertise and collaboration with Etana, we can help to advance the biopharmaceutical industry in ASEAN and reinforce our commitment to promoting the well-being of communities in the region."

"We appreciate Etana's vision to provide Indonesia with cost-effective biopharmaceuticals. We look forward to working with Etana to achieve this goal. Etana has significant synergy with China's biopharmaceutical industry. It will become an important bridge to promote cross-border pharmaceutical trade between China and Southeast Asia. Through this cooperation, we believe that Etana will grow into a leading biopharmaceutical company in Indonesia and Southeast Asia," commented Hong Tan, Managing Director of Legend Capital.