finance news

InventisBio secures $147M in Series D round to expand product pipeline

Date: September 28, 2020 Sunil Jha Sunil Jha
InventisBio secures $147M in Series D round to expand product pipeline 
InventisBio Inc., a clinical-stage biotech firm developing innovative small molecule drugs, has reportedly raised USD 147 million series D financing round led by Hillhouse affiliate GL Ventures. The funding round attracted the participation of numerous top healthcare and biopharmaceutical venture capital funds including Janchor, AIHC Capital, Qiming Venture Partners, E Fund Capital, Dyee Capital, Matrix Partner China, and other investors.  



The current shareholders including AdvanTech Capital, CMB International, OrbiMed Asia, Pudong Innotek, and Lilly Asia Venture have also lent their support. Chinese investment bank China Renaissance served as an exclusive financial advisor for this transaction.



Presently, InventisBio has three drug candidates in the mid to last stage clinical development, and one new drug product recently entered the global phase I clinical trial. Sources cite that the company will use this funding mainly to support its current products into phase II clinical trials in the United States and China, including D-0502 clinical study in hormone receptor-positive breast cancer and D-0120 clinical trials in gout.



The funding round will also aid InventisBio’s global clinical development of numerous new drugs, enabling further expansion of its team and pipeline.



Speaking on which, Dr. Yaolin Wang, CEO, and Chairman of InventisBio said the company is honored and grateful to have Hillhouse's GL Ventures led this funding round. He also thanked other top investment funds as well as existing investors for their continued support.



This funding round highlighted the recognition of the company’s strong pipeline and fully integrated innovative Research & Development platform by leading healthcare investors, Dr. Wang said while adding that it also demonstrates the company’s strategic investors’ confidence in the future success of the firm as a key player in the global pharmaceutical industry.



For the record, InventisBio is one of the leading innovative biotech companies, co-founded by Dr. Wang and several senior scientists. The firm’s top management team members have an average of over two decades of experience in innovative drug development and discovery.



Source Credit - https://www.prnewswire.com/news-releases/inventisbio-announces-147-million-series-d-financing-led-by-hillhouse-affiliate-gl-ventures-301138631.html

About the author

View All Posts

Sunil Jha

Sunil Jha has been a part of the content industry for close to two years. Having previously worked as a voice over artist and sportswriter, he now focuses on writing articles for newsorigins.com, across a slew of topics, ranging from technology to trade and finance. With a business-oriented educational background, Sunil brings forth the expertise of deep-dive research and a strategic approach in his write ups.