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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