Biopharmaceutical Firm Sinovent Recieves ￥100M Pre-IPO Investment

(VCBeat) Dec 31, 2020 -- In December 2020, Suzhou-based Sinovent Inc. ("Sinovent") completed Pre-IPO financing of hundreds of millions of yuan, led by Oceanpine Healthcare Fund, with participation from China Development Capital, Jiuyou Capital, Fengyi Yuanda Equity Investment, ABC International, DeGuan Capital, and other well-known investors. StartPointAdvisors acted as the exclusive financial consultant of this round.

The funds raised in this round will be used for production base construction and clinical trials at home and abroad, and the launch of new products to benefit patients.

Founded in 2016, Sinovent is a global biopharmaceutical company focused on innovation for significant unmet clinical needs. The company owns several intellectual property rights globally. Sinovent is centered around global standard excellence through its advanced biotechnology platform to develop and promote advanced treatment methods to solve worldwide healthcare problems. 

Sinovent focuses on developing the new generation of best-in-class and first-in-class products. Its R&D projects cover the indications of cancer, antibiotics, autoimmune diseases, and metabolic diseases. So far, five products have entered the clinical stage domestically and abroad, and three products have entered the IND-Enabling stage.

Oceanpine Healthcare Fund is a healthcare venture fund that aims to connect innovation in the US to the Chinese consumer base, and primarily invests in Chinese and US firms with core technologies and proprietary R&D capabilities. They bridge a supply and demand gap exacerbated by limited R&D in China.

CDIB Capital operates as the overseas investment arm of China Development Financial (CDF), one of the largest and longest-standing merchant banking groups in Asia with approx. US$25 billion in assets. CDIB Capital is headquartered in Hong Kong, with principal offices in Taipei, Shanghai, Seoul and New York.