Daily Update: Oblenio Raises $62M Led by Pfizer; Airwallex Bags $320M at $11B Valuation; Mesoblast Draws $50M Facility; Amundi Targets €150B Asia Inflows; Frasers Plans S$2.1B Portfolio Optimisation; OUE-Tokyo Century Buy Crowne Plaza Changi

CHINA’S LEADS BIOLABS’ PARTNER OBLENIO BIO RAISES $62 MILLION LED BY PFIZER

China-headquartered Nanjing Leads Biolabs, a clinical-stage biotechnology company, Thursday said its partner company with Aditum Bio, Oblenio Bio, raised a $62 million Series B financing round. 

The round was led by Pfizer Ventures, with participation from Deep Track Capital, GV, and founding investor Aditum Bio. 

This milestone significantly advances the clinical development of Oblenio’s sole asset designed to reset the immune system in patients with severe autoimmune diseases.

“This asset was discovered and engineered using Leads Biolabs’ proprietary LeadsBody platform. This immune reset strategy aims to achieve long‑term drug‑free remission for patients suffering from a range of refractory autoimmune diseases,” the company said. 

In conjunction with the financing, Dr. Xiaoqiang Kang, Founder, Chairman and CEO of Leads Biolabs, will serve as a Board Observer of Oblenio, further strengthening the strategic collaboration between the two companies. 

As the originating innovator, Leads Biolabs will continue to provide technical support to Oblenio and will remain eligible for significant milestone payments and royalties as the asset advances through global clinical development and commercialization.

Dr. Xiaoqiang Kang commented, “The strong investor interest in Oblenio’s Series B financing validates the potential of our LeadsBody platform to generate differentiated assets, and we are pleased to see this financing significantly accelerate the asset’s path to the clinic.”

SINGAPORE-HQED AIRWALLEX SECURES $320 MILLION IN SERIES H FUNDING, VALUATION HITS $11 BILLION

Singapore-based Airwallex, a global payments and financial platform for modern businesses, Thursday said it has raised $320 million in Series H funding, bringing the company’s valuation to $11 billion, up from its $8 billion valuation in December 2025.

The round was led by returning investor Addition, with participation from Baillie Gifford, Hummingbird, QED Investors, T. Rowe Price, Hedosophia, Haun Ventures, Washington University in St. Louis and Amex Ventures.

The investment will help Airwallex accelerate product development across autonomous finance and agentic commerce, expand its infrastructure and regulatory footprint into new markets, and continue scaling the teams building its next generation AI native financial software.

“We believe this is the most consequential moment in the history of global finance, and we are building accordingly,” said Jack Zhang, co-founder and CEO of Airwallex. 

“A decade ago, we did not know exactly what the agentic economy would look like, but we built a foundation for it. The licenses, local network integrations, and settlement rails we spent ten years constructing are precisely the kind of infrastructure it needs. This new capital lets us move faster into Airwallex’s next chapter: autonomous finance, agentic commerce, and the infrastructure to power both.”

“What Airwallex has built is unusually hard to replicate,” said Lee Fixel of Addition. “As AI transforms the competitive landscape, the winners will be the companies building on top of real financial infrastructure, not around it. Airwallex has already shown it can translate that foundation into meaningful software capabilities at scale.”

Airwallex is scaling rapidly as demand for borderless financial infrastructure accelerates. In March 2026, Airwallex reached $1.3 billion in annualized revenue, up 74% year-over-year, and $287 billion in annualized transaction volume, up more than 120% year-over-year. More than 90% of Airwallex’s revenue now comes from customers using more than one Airwallex product, highlighting deeper adoption across the platform.

Airwallex is an AI native financial operating system for modern businesses. We are building the future of global banking for a borderless, real-time, intelligent economy.

AUSTRALIA’S MESOBLAST DRAWS US$50 MILLION FROM FIVE-YEAR NON-DILUTIVE FACILITY

Australia-based Mesoblast Limited, a global player in allogeneic cellular medicines for inflammatory diseases, Thursday said it drew down US$50 million from its five-year facility provided by existing Mesoblast shareholder and director Dr. Gregory George. 

Mesoblast had US$122 million cash at March 30, 2026. In aggregate Mesoblast is well funded to invest in its commercial operations and growth pipeline, and optimize its capital structure by retiring the higher cost NovaQuest Capital Management debt facility eliminating the short-term debt obligations.

The credit-line has a fixed interest rate of 8.00% per annum, a substantial reduction from prior facilities, with a five-year interest only period (from initial draw), and will be secured solely with the Temcell royalty. The facility can be repaid at any time without incurring early prepayment or make-whole fees, does not include exit fees.

Mesoblast Chief Executive Silviu Itescu said, “Mesoblast’s balance sheet is strengthened by a favorable long-term facility with elimination of short-term high-cost debt. The facility does not encumber any of our material assets or intellectual property, enabling unrestricted entry into strategic partnerships or licensing transactions.”

AMUNDI TARGETS TO GENERATE €150 BILLION NET INFLOWS OVER 2025-2028 FROM ASIA

Amundi, a global European asset manager with €2.4 trillion of assets under management, is targeting to have net inflows of +€150 billion net inflows over 2025-2028. It had €84 billion net inflows over 2022-2025. 

The company has €473 billion in assets under management distributed in Asia at end-2025, up fourfold since 2015.

To deliver on this target, the Group will focus on forging partnerships with leading wealth players across Asia and increase the number of wealth clients by +50% by 2028 and expand client reach across all institutional segments to increase the number of institutional clients by +50% by 2028

The company is also looking to cement its joint ventures and continue to explore new JV opportunities in markets where it is the best way to achieve scale, access and relevance. It will also look at addressing all retirement investment needs, by strengthening and tailoring Amundi’s solutions capabilities and leveraging each country’s dedicated retirement schemes.

It is planning on capturing new frontiers’ fast-growing opportunities, with a particular focus on South East Asian markets, notably by exploring go-local opportunities, both organically or through JVs.

To achieve this, Amundi will invest in talents and platform excellence, with a +30% increase in regional headcounts. It will also expand its solutions capabilities and product offer through product innovation across the full range of building blocks.

Fannie Wurtz, Deputy General Manager, Head of Clients Group and Chair of Asia, said: “Asia is our second home market and a proven growth engine for Amundi. We’re accelerating our ambitions to capture the region’s significant opportunities, leveraging our powerful local presence, successful joint venture partnerships, and global-local investment expertise to better serve clients. With a clear roadmap in place, we’re confident in achieving our €150 billion net inflows target over 2025-28.”

Amundi has been deeply rooted in the Asian region for more than 50 years and built a comprehensive local setup. It combines a strong direct presence across Asia’s main financial centres notably in Hong-Kong, Shanghai, Singapore and Tokyo, with successful joint ventures in India, China and South Korea. This pan-Asian footprint gives Amundi both scale and local depth across the region’s largest and fastest-growing markets.

Its locally anchored platform is supported by 12 offices, and investment teams across 9 Asian markets.

FRASERS PROPERTY

FRASERS PROPERTY PROPOSES S$2.1 BILLION PORTFOLIO OPTIMISATION

Singapore Stock Exchange-listed Frasers Property Thursday said it proposes an optimisation of its portfolio involving approximately S$2.1 billion of assets. The proposed transaction is expected to reshape the Group’s hospitality portfolio, enhance capital efficiency and deliver long-term shareholder value.

The proposed portfolio optimisation builds on the 2025 privatisation of Frasers Hospitality Trust which gave the Group greater flexibility over any restructuring of the ownership and management of the portfolio. 

This transaction involves reversing certain legacy arrangements previously put in place for FHT’s listing, including the removal of minimum fixed rental and corporate guarantee obligations by Frasers Property. It also involves aligning ownership of property and operating companies, and unifying carved-out lease and reversionary interests for single title ownership to provide flexibility for asset value maximisation while maintaining platform scale and remaining selectively invested for value creation opportunities alongside TCC Group Investments, the existing co-owner of the FHT portfolio assets.

The Proposed FHT Portfolio Optimisation will effectively allow Frasers Property consolidate full ownership of Fraser Suites Singapore, facilitating a potential redevelopment of the Valley Point site.

Mr Loo Choo Leong, Group Chief Financial Officer of Frasers Property, said, “We have been disciplined in improving capital efficiency, lowering gearing and enhancing returns for the Group. The proposed FHT portfolio optimisation reflects that discipline in action. It frees up capital for higher-returns opportunities while maintaining our recurring income base by co-investing alongside our capital partner. This delivers clear positive effects on our balance sheet and key financial metrics.”

Ms Eu Chin Fen, Chief Executive Officer of Frasers Hospitality, added, “Following the privatisation of Frasers Hospitality Trust in 2025, we conducted a comprehensive review of the hospitality portfolio and reached clear conclusions on how each asset is best managed going forward. The Proposed FHT portfolio optimisation is the outcome of that review which strengthens our platform while we continue to drive performance through our operating capabilities.”

The proposed FHT portfolio optimisation will be transacted with TCCGI at approximately 6.7% premium to latest independent valuation and 1.6% above the implied Take-Private valuation levels. 

On-balance sheet hospitality assets are expected to decrease from approximately S$3.7 billion 3 to S$2.5 billion, while AUM maintains at S$4.2 billion. Frasers Property will continue to generate recurring income through its operating capabilities across the portfolio.

The proposed optimisation is expected to enhance FPL’s key financial metrics on a pro forma FY2025 basis and aims at an 3.4% increase in EPS, Return on equity improved by 0.1 percentage points, Net asset value per share increased by 1.3% and Net gearing reduced by 3.3 percentage points.

The Proposed optimisation, if approved at the EGM, is expected to complete before the end of FY2026.

CROWNE PLAZA CHANGI AIRPORT

OUE AND TOKYO CENTURY FORM JOINT VENTURE TO ACQUIRE CROWNE PLAZA CHANGI AIRPORT FOR S$500 MILLION

Singapore Stock Exchange-listed OUE Limited and its partner Tokyo Century Corporation have entered into a joint venture to acquire the Crowne Plaza Changi Airport from OUE Real Estate Investment Trust for S$500 million. 

The purchase price was agreed on a willing-buyer, willing-seller basis, following an independent valuation by Savills Valuation and Professional Services.

This marks the second collaboration between OUE and Tokyo Century, following the signing of their inaugural JV in May 2025 to jointly develop the 255-room Hotel Indigo Changi Airport at Changi Airport Terminal 2, which broke ground on 29 May 2025 and is expected to be operational in 2028. 

For OUE, the transaction is in line with its “asset right” strategy to optimise capital deployment and grow its third-party funds under management. This will also allow OUE to scale its recurring fee income streams through asset management and development management fees. 

Brian Riady, Deputy Chief Executive Officer and Executive Director of OUE, said, “This presents an opportunity for us to add value to a strategic hospitality asset. We are also immensely grateful for the close collaboration and steadfast support of our key partners, Changi Airport Group and IHG Hotels & Resorts, which have been instrumental in reaching this significant milestone.”

Yoichiro Nakai, Deputy President and Executive Officer of Tokyo Century, said, “We are delighted to embark on our second joint venture with OUE Limited. Directly connected to Changi Airport—Singapore’s gateway to the world—Crowne Plaza Changi Airport is a highly strategic hospitality asset.” 

Crowne Plaza Changi Airport is a 575-room hotel operated by IHG Hotels & Resorts and strategically located at Terminal 3 of Singapore Changi Airport. The hotel comprises a 332-room main building and a 243-room extension, with direct connectivity to all airport terminals and Jewel Changi Airport via skytrain or a pedestrian link bridge.