Innolake Biopharma Scooped up ￥300 Million in Pre-Series A Round

(VCBeat) Apr. 06, 2021 -- Hangzhou-based Innolake Biopharma recently completed a Pre-Series A financing of 300 million yuan from WuXi Biologics' industry investment fund, Hangzhou Hua'an Jingyin Investment, CDH Investments and Huagai Capital. The proceeds from the latest round will be used primarily for the rapid development of Innolake Biopharma's first-of-its-kind or best-in-class drugs.

Innolake Biopharma was founded in December 2020 by Dr.Xia Mingde, former senior director of global external innovation of Johnson & Johnson Group, and Chen Rulei, former founding team member/executive vice president of Genor Biopharma.

Innolake Biopharma is committed to the development and commercialization of therapeutic drugs for cancers and diseases of the immune system to meet the urgent medical needs of patients in China and around the world. The company has established a management team of domestic and overseas experts with rich experience in drug R&D and clinical research. It has developed a very differentiated pipeline with competitive advantages. 

At the same time, with the help of internal and external platforms and superior resources, through independent R&D and global cooperation and other diversified modes, Innolake Biopharma continues to strengthen its R&D construction and promote the process of product development and marketing.

Innolake Biopharma's vision is to build a leading biopharmaceutical company in China with international influence. The drugs it develops and commercializes are globally competitive, which will serve the major medical demands in China and those in the international market through cooperation.

WuXi Biologics is an open-access technology platform company offering end-to-end solutions to empower organizations to discover, develop, and manufacture biologics from concept to commercial manufacturing. Across the global biologics research and development community, we enable our partners to find innovative biological treatments for diseases worldwide.

Established in February 2016, Hua'an Jingin is a professional fund focusing on investments in life science, including basic research services of life science, early screening, diagnosis, clinical research services, biopharmaceuticals, regenerative medicine, new materials for drug delivery, commercial healthcare insurance services, etc.