China-based macromolecular drug developer NeoX Biotech has received $30m in series A funding from investors including Bertelsmann Asia Investments, a corporate venturing vehicle for media group Bertelsmann, DealStreetAsia reported yesterday.
The round was co-led by Sky9 Capital and 5Y Capital and also backed by Vertex Ventures China, Sequoia Capital China and Vision Plus Capital.
NeoX is applying artificial intelligence and biophysics technology to developing immuno-oncology therapeutics to treat cancer. The cash will be allocated to preclinical drug development, increasing headcount and expanding its partnerships.
The company had raised ‘millions of dollars’ in seed funding from 5Y Capital (then known as Morningside Venture Capital) and ZhenFund in 2018, before Vision Plus Capital and Sequoia China co-led a $10m pre-series A round in July 2020 that included 5Y Capital.