Vivavision Bio Completes RMB 65 Million Series C Financing to Accelerate Clinical Development of Ophthalmic Innovative Drugs

VCBeat learned that on September 26, 2019, VIVAVISION Biotech (Shanghai) Co., Ltd. successfully completed a new round of financing, raising RMB 65 million. The round was led by the Beta Pharma Bio-Industry Fund, with participation from Juming Venture Capital, Changrong Capital, Yingqi Investment, JMCR, and Donghan International, among others. The funds will be used to support U.S. clinical trials for VVN001, an innovative drug for dry eye disease independently developed by the company.

VIVAVISION was co-founded by Dr. Shen Wang and the Viva Biotech Incubator in 2016. In the same year, it secured RMB 20 million in Series A financing, followed by RMB 50 million in Series B financing in 2018. The company is dedicated to the research and development of innovative drugs for ophthalmic diseases, having established a leading product pipeline and assembled a world-class R&D team specializing in ophthalmic pharmaceuticals.

Dr. Shen Wang, the founder, has over 20 years of experience in innovative drug R&D at renowned pharmaceutical companies such as Abbott and Amgen. During this period, he led teams to successfully develop two marketed drugs, including Lifitegrast, the only FDA-approved targeted therapy for dry eye disease in the past decade, and Venetoclax, a benchmark blockbuster anticancer drug.

Regarding this financing round, Dr. Shen Wang stated, “We appreciate the trust placed in us by our investors. VIVAVISION will rapidly advance the research and development of multiple projects to address unmet clinical needs in ophthalmology, aiming to provide patients with more effective and safer products as soon as possible.”

The lead investor in this financing round, Beta Fund, stated: “Beta Fund is pleased to participate in and support the development of VIVAVISION. Under the leadership of Dr. Shen, VIVAVISION has grown into a first-class biopharmaceutical company specializing in innovative ophthalmic drugs. We will help facilitate its continued rapid growth.”