China's InventisBio secures $147m Series D

Qiming Venture Partners, Matrix Partners China, Janchor Partners, AIHC Capital, Dyee Capital, and E Fund Capital also came in as new investors. Existing backers Lilly Asia Ventures (LAV), Advantech Capital, OrbiMed Asia, Pudong Innotek Capital, and CMB International re-upped. It follows a $70 million Series C last year and a $19 million Series B in 2017.

InventisBio, which focuses on treatments for cancer and metabolic diseases four drug candidates in various clinical stages and two clinical registration trials ongoing. Operations leverage a number of collaborations such as joint clinical trials, and partnerships in manufacturing and sales. These include a lung cancer drug discovery program alongside LAV-backed Betta Pharma.

According to a statement, InventisBio will use the fresh capital to build out its product pipeline, hire additional staff, and advance at least two products into phase-two trials across China and the US. Priority products include treatments for breast cancer and gout. The company’s other clinical-stage drugs target lung cancer and non-alcoholic steatohepatitis (NASH), a severe form of liver disease.

Hillhouse launched GL Ventures earlier this year, with a debut fund reportedly amounting to RMB10 billion ($1.5 billion). Biopharmaceuticals and medical equipment, enterprise software and services, consumer internet, and emerging consumer brands are among its areas of interest. Previous activity in the biotech space includes investments in drug developer Suzhou Ribo Life Science and GemPharmatech, which provides genetically modified mice for drug testing.

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• Topics
• Greater China
• Healthcare
• Technology
• Early-stage
• China
• GL Ventures
• Qiming Venture Partners
• Matrix Partners
• Advantech Capital
• OrbiMed
• Pharmaceuticals