InventisBio, a Shangai, China-based biotech company dedicated to the discovery and development of novel medicines, raised US$19m in Series B funding.
The round was led by OrbiMed Asia Partners with participation from Lilly Asia Ventures (LAV).
Co-founded by Chairman and CEO Dr. Yaolin Wang and other scientists who have previously worked at Merck and Schering-Plough, leading various drug discovery projects in oncology, metabolic and infectious disease areas, InventisBio is a biotech company whose product pipeline includes small molecule drug candidates for targeted therapies in lung cancer, breast cancer and gout. The company is also actively developing drugs that can be combined with other immune-oncology targeted therapies, such as PD-1 antibody, for various cancer indications.
Three drug candidates are expected to enter phase 1 clinical trials in US and China in 2017.
Prior to the Series B financing, InventisBio received investment from angel investors led by Beautiful Mind Investment Management Ltd in 2015 and Series A financing led by Lilly Asia Venture and SinoPharm Capital in May 2016, totaling US$11m.