PT Etana Biotechnologies Indonesia (Etana), an Indonesian biopharmaceutical company, has secured a new round of investment led by DEG followed by Yunfeng Capital, HighLight Capital and East Ventures.
The round of financing will be used for further strengthening PT Etana Biotechnologies’ pipeline and portfolio especially in oncology.
Currently, PT Etana Biotechnologies focuses on local biopharmaceutical production for mRNA platforms, proteins and monoclonal antibodies.
“Etana as an Indonesian biopharmaceutical start-up, always strives 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 including vaccine. We believe these biological products can provide better treatment and greatly improve healthcare for the population,” said Nathan Tirtana, president director of PT Etana Biotechnologies.
“As a development finance institution, DEG is committed to the UN Sustainable Development Goals (SDGs). This also includes improving health care. By working with Etana, we are helping to ensure that underprivileged people also have access to high-quality biopharmaceutical medicines and mRNA vaccines,” said Monika Beck, DEG management board member.
PT Etana Biotechnologies capabilities
“Etana, as Southeast Asia leading biopharma has the capabilities of vaccine manufacturing, local clinical and registration, and has formed its own sales force. We believe in Etana’s vision, led by Nathan, to be the leading Southeast Asia biopharma and vaccine enterprise,” said Huang Xiao, managing director of Yunfeng Fund.
PT Etana Biotechnologies became the first pharmaceutical company in ASEAN to have mRNA technology. The company produced a COVID-19 vaccine with an mRNA platform, which has received an Emergency Use Authorization (EUA) from the Indonesian Food and Drug Authority (BPOM), a halal provision from the Indonesian Ulema Council’s (MUI) LPOM and a halal certificate from the Halal Product Assurance Agency (BPJPH) of the Indonesian Ministry of Religious Affairs.
PT Etana Biotechnologies will also produce a bevacizumab biosimilar, a recombinant humanized anti-VEGF monoclonal antibody drug for cancer patients in Indonesia.
PT Etana Biotechnologies also produces erythropoietin (EPO) for dialysis treatment. The company plans to develop an adenovirus platform for vaccine production. Production is intended to meet domestic needs as well as for export to the ASEAN market and several other countries.