ARTICLE | Finance

Innovent's $100M for mAbs

What China mAb play Innovent plans to do with $100M in new cash

January 26, 2015 8:00 AM UTC

Innovent Biologics Inc. plans to spend most of its new series C round to develop its pipeline of novel biologics and biosimilars and to expand its manufacturing. The Chinese mAb company raised $100 million last week in the oversubscribed round - the largest untranched private financing for a Chinese biotech, according to co-founder, President and CEO Michael Yu.

New investor Legend Capital led the round. Singapore's Temasek and two other undisclosed new investors also participated, along with existing investors Fidelity Biosciences, Fidelity Growth Partners Asia, Lilly Asia Ventures and Frontline Bioventures. ...