Innolake Biopharm Completes Over RMB 100 Million Series A1 Financing to Accelerate Differentiated Innovation and Pipeline Development

VCBeat has learned that InnoLake Pharma recently announced the completion of its RMB 100 million-plus Series A1 financing round, with investments from WuXi Biologics Industrial Fund, Heda Fund, Zhongbo Juli Fund, and others.

Innolake Biopharm (Hangzhou) Co., Ltd. (“Innolake Biopharm”), founded in 2020, is a clinical-stage biotechnology company focused on oncology and autoimmune diseases. Driven by proprietary, differentiated innovation, the company has established an integrated in-house R&D platform for small-molecule, large-molecule, and antibody-drug conjugate (ADC) therapeutics. Two product candidates have entered clinical trials, including an A2aR inhibitor for the treatment of advanced solid tumors, which has demonstrated an excellent safety profile and early signals of positive clinical efficacy.

In early 2021, InnoLake Pharma secured nearly RMB 300 million in Pre-A financing, jointly invested by CDH Investments, WuXi Biologics Industrial Fund, Hangzhou Hua’an Jingyin Investment, and Huagai Capital.

Following the completion of this Series A1 financing, InnoLake Pharma will focus on advancing its core pipeline assets with distinct competitive advantages that are either first-in-class (FIC) or best-in-class (BIC). The company will continue to innovate strategically in areas addressing non-response or resistance to anti-PD-1/PD-L1 immunotherapy, preventing tumor recurrence and metastasis with significant therapeutic efficacy, and developing its proprietary antibody-drug conjugate (ADC) pipeline.

Dr. Xia Mingde, Chairman and CEO of InnoLake Pharma, stated:“We sincerely thank all investment institutions for their trust and support in InnoLife Pharma, which has helped accelerate the advancement of our pipeline. With the completion of this new round of financing, InnoLife Pharma will efficiently and solidly advance the R&D process of its innovative drug projects at various stages, aiming to successfully translate innovative research into significant clinical benefits for trial patients. We will not shy away from the challenges inherent in innovation; instead, we will overcome every obstacle to achieve an ‘InnoLife acceleration’ in our innovative endeavors. Our mission is to ignite the light of life for patients worldwide while creating greater value for society and our investors.”

As one of the investors in this round, Kang Yaoyun, Chairman of Zhongbo Juli, stated:“Yingnuohu Pharma has pursued comprehensive innovation across target mechanism elucidation, R&D technology platforms, clinical development, and business expansion and partnership models. Within just over two years of its establishment, the company has built an in-house R&D system and core technology platform for innovative small-molecule, large-molecule, and antibody–drug conjugate (ADC) therapeutics, with two product candidates already entered into clinical trials. The company’s rapid growth is closely attributable to the founder’s global vision and strategic outlook, the extensive experience accumulated by the core team, and the team’s high execution efficiency. We are honored to participate in this financing round and, together with this highly driven team, to help build Yingnuohu Pharma into a leading Chinese innovative pharmaceutical company with international influence, bringing hope and new life-saving options to patients worldwide.”