Chinese pharmaceutical manufacture Innovent Biologics, has raised $25m in a Series B round with participation from US pharmaceutical company Eli Lilly via their far east corporate venturing unit Lilly Asia Ventures, and from US financial services provider Fidelity Investments , through their Chinese corporate venturing arm Fidelity Growth Partners Asia as well their their bio-tech venturing arm Fidelity biosciences.
Innovent Biologics currently has a manufacturing plant located in Suzhou, China which creates biological medical products for clinical trails as well as commercially licensed medication. The company plans to use the funds recieved to scale up their current manufacturing capacity, with the intention of expanding their Suzhou plant into the largest of its kind in China.