China biotech unicorn Innovent in talks on $200M IPO and new funding — report
A little more than a year ago, Shanghai-based Innovent Biologics raised a record $260 million D round for its efforts to lead the first biosimilar wave in China. Now, they are taking the next step and planning an IPO that could add another $200 million to their arsenal of cash.
As Bloomberg reports, Innovent is currently in talks with investors about a pre-IPO funding round, touting a valuation of more than $1 billion — just above the threshold for being a unicorn. Among those investors is Capital Group, a major US asset manager known for backing startups in emerging markets.
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