Etana startup intends to widen the Adenovirus platform for vaccine manufacture after seizing a new undisclosed investment round from well-known investors.
Heaptalk, Jakarta — PT Etana Biotechnologies Indonesia (Etana), Indonesia’s biopharmaceutical startup, has obtained a new investment round for an undisclosed amount led by DEG. Several investors, including Yunfeng Capital, HighLight Capital (HLC), and East Ventures, also joined this round.
Etana company will use the fund to amplify the company’s pipeline and portfolio, particularly in the Oncology field — medical science focusing on cancer, to become a biological raw material manufacturer.
The President Director of Etana, Nathan Tirtana, voiced, “We will use the support from the investors to enhance local biopharmaceutical production capabilities, aligned with the policies that Indonesia’s government promotes. Etana aims to tackle challenges in oncology and other life-threatening diseases for the Southeast Asia market, including vaccines. We believe this biology product can demonstrate a more qualified medicine for people,”
Furthermore, this health tech startup aims to create production capacity for mammalian cells for monoclonal antibodies and drug substances to ensure high local content production and technology capability. Currently, Etana startup focus on local biopharmaceutical production for mRNA platforms, proteins, and monoclonal antibodies.
By focusing on the mRNA platforms, Etana has become the first pharmaceutical company in ASEAN that adopts this technology. As it is known, mRNA technology is the flexible vaccine development platform to retort more quickly regarding innovative biopharmaceutical products for cancer and vaccines. This technology can take a reasonably short time to develop a new vaccine product, approximately two months to enter the Clinical Trial Phase.
Presiding Etana’s investment round, the DEG management board member, Monika Beck, affirmed the company continues to expedite the Sustainable Development Goals (SDGs). Through cooperation with this pharmaceutical startup, DEG company signifies to aid society in developing countries in gaining simple access to biological medicines and the high-quality mRNA vaccine.
With the maturation of China’s innovative drug industries, the Managing Partner of Yunfeng Fund, Dr. Huang Xiao, reveals the desire to expand also coincides with the Southeast Asia market demand for superior biological medicinal products. With the innovation offered, Xiao believes in Etana’s objectives to be the leading Southeast Asia biopharma and vaccine manufacturing enterprise.
Health products of Etana
Etana has produced the Covid-19 vaccines with the mRNA platform to reduce the number of positive cases in the country. This vaccine has gained Emergency Use Authorization (EUA) from the National Agency for Drug and Food Control (BPOM), a halal decree from the LPOM of Indonesia‘s Ulema Council, and a halal certificate from Indonesia’s Ministry of Religion’s Halal Product Guarantee Agency (BPJPH).
East Ventures‘ Co-Founder and Managing Partner, Willson Cuaca, observed the pandemic had highlighted the inadequacies of Indonesia’s healthcare system, urging several stakeholders to present rapid and innovative health solutions to resolve the crisis. Perceiving multiple Etana products, including vaccines, cancer medicine, and other biological products, Willson believes these products would reinforce the national healthcare system.
“We believe Etana is at the forefront in bringing high quality, affordable, and innovative biopharmaceutical products to the region, together with East Ventures taking an active role in empowering this space further,” Willson added.
In addition, Etana company also produces Erythropoietin (EPO) which is needed in dialysis treatment. On the other hand, this company will develop a fabricated bevacizumab biosimilar — recombinant human anti-VEGF monoclonal antibody drug for cancer patients in Indonesia. This product has accomplished the drug safety and efficacy standards of BPOM, both in the product quality and the production process.
From now on, the Etana startup intends to widen the Adenovirus platform for vaccine manufacture. This production aims to fulfill the domestic requisites and will be exported into the ASEAN market and other countries.
“Etana’s outstanding capabilities in manufacturing and registering innovative biopharmaceutical products in Indonesia are well received by Chinese biopharma partners, including multiple HLC’s portfolio companies. HLC is devoted to bringing the breadth of our network and the depth of our expertise to advance Etana’s development in ASEAN and beyond,” said HighLight Capital Investment Team.
