Innovating Innovent

An oversubscribed $260 million series D round gives Innovent Biologics Inc. enough cash to submit BLAs for its three lead biosimilars in China, but don’t call it a biosimilars company. The Chinese biotech also a has a pipeline of eight novel mAbs that include first-in-class candidates, and expects to add novel candidates to its pipeline at a regular clip.

“For the next couple years, we want to identify two novel antibodies each year to build up our product pipeline,” Chairman and CEO Michael Yu told BioCentury...