Backed by OrbiMed, Lilly and now Advantech, China's InventisBio loads up $70M to propel cancer, metabolic pipeline
Almost two years after bagging a $19 million round for its early-stage R&D amid some sweeping reforms in China’s regulatory world, Shanghai-based InventisBio is back on stage with $70 million in Series C cash and a global Phase II game plan.
Advantech Capital and CMBI — both recognizable names in China — co-led the round, followed by Pudong Innotek. They join existing investors Lilly Asia Venture and OrbiMed Asia in backing a startup bootstrapped by Merck vet and company founder Yaolin Wang, who left the pharma giant in 2015 to start InventisBio.
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