VCs channel $25m into China’s Innovent Biologics
Innovent Biologics, a China-based manufacturer of monoclonal antibodies, has raised $25 million in Series B financing from Lilly Asia Ventures, the VC arm of global pharmaceutical company Eli Lilly, and existing investors Fidelity Biosciences and Fidelity Growth Partners Asia.
The capital will be used to fund the company's expansion and manufacturing capabilities. Innovent, which already has a GMP-compliant pilot plant for the production of clinical trials materials, is building...
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