Lilly Asia Ventures, a corporate venturing vehicle for pharmaceutical firm Eli Lilly, has led a $90m series B round for China-based oncology, metabolic disease and autoimmune disorder drug developer Regor Therapeutics.
Loyal Valley Capital, Lanting Capital, TF Capital and Vertex Ventures China also participated in the round.
Founded in 2018, Regor is developing drugs to treat medical conditions such as cancer, immune system disorders and metabolic diseases. It was launched with an undisclosed amount of series A funding from pharmaceutical company Qilu Pharmaceutical.
Regor utilises a technology platform called Computer Accelerated Rational Discovery, which has allowed it to develop a number of its discovery programmes at an accelerated rate. It plans to use the financing to progress part of its pipeline through preclinical and clinical testing.
Xiayang Qiu, founder and CEO of Regor, said: “We are very pleased with the strong support from leading life science investment firms in this financing round. We are now in a strong position to advance preclinical and clinical studies of multiple programmes.
“We are looking forward to long-term collaborations with our investors, as we aim to improve the treatment outcomes for worldwide patients of chronic diseases, cancer and other life-threatening diseases.”
Yi Shi, managing partner of Lilly Asia Ventures, added: “We are proud to support Regor Therapeutics’ world-class team to expand its efforts across a larger number of programs and therapeutic areas to develop tomorrow’s life-saving treatments.”