China-based oncology and metabolic drug developer InventisBio yesterday revealed $147m in series D funding from investors including Lilly Asia Ventures, a regional corporate venturing subsidiary of pharmaceutical firm Eli Lilly.
GL Ventures, an affiliate of private equity firm Hillhouse Capital, led the round, which also featured Qiming Venture Partners, Janchor, AIHC Capital, Matrix Partner China, Dyee Capital, E Fund Capital, OrbiMed Asia, Pudong Innotek, Advantech Capital and CMB International.
The round also included unnamed participants.
InventisBio is working on a range of clinical-stage drug candidates to treat various indications of cancer and metabolic diseases. Its pipeline includes D-0502, a proposed therapy for hormone receptor positive breast cancer, and D-0120, which aims to treat gout.
The series D money has been allocated to phase 2 studies of D-0502 and D-0120. It will also drive recruitment and allow the company to further expand its pipeline.
InventisBio has raised $247m in total funding to date, having closed a $70m series C round backed by Lilly Asia Ventures in January 2019. Advantech and CMB International Capital co-led that round, while Pudong Innotek and OrbiMed Asia also contributed.
Lilly Asia Ventures already participated in a $19m series B round in 2017, led by OrbiMed Asia, after the corporate had led a series A round of undisclosed size in 2016, with a commitment from SinoPharm Capital, the investment arm of pharmaceutical firm SinoPharm.
Beautiful Mind Investment Management led a seed round of undisclosed size in 2015.
