Ionova Life Sciences Secures $100 Million Financing to Advance Innovative Oncology Drug Pipeline
On August 22, 2021, Shenzhen Jonova Life Sciences Co., Ltd. (hereinafter referred to as “Jonova” or the “Company”) officially announced the completion of a new round of financing amounting to US$100 million,This funding round was co-led by Qingsong Capital, Shenzhen Capital Group, and the Greater Bay Area Common Home Development Fund, with existing shareholders Deyi Capital and Lilly Asia Ventures increasing their investments.. Life Capital served as the exclusive financial advisor for this financing round.
The proceeds from this financing round will be primarily used to accelerate the clinical development of existing pipeline products and to advance the development of subsequent pipeline candidates. Founded in November 2016 by Dr. Yongkui Sun, a member of the U.S. National Academy of Engineering, Jonova is a biotechnology company dedicated to the research and development of innovative drugs in the fields of “tumor targeting and tumor immunomodulation,” with a global strategy for rights layout.
The company’s core team possesses extensive experience in leading innovative drugs through the entire development lifecycle to successful market approval. It has established an industrialization-driven translational medicine platform to build robust capabilities in source innovation. Currently, the company boasts a rich pipeline primarily focused on solid tumors and tumor drug resistance. Notably, INV-1120, which is undergoing Phase I clinical trials in the United States, demonstrates best-in-class potential and enables various combination therapies.
Dr. Yongkui Sun, Founder of Jonova and Member of the U.S. National Academy of Engineeringstated: “Rooted in the Guangdong-Hong Kong-Macao Greater Bay Area, Jonova is committed to developing innovative drugs with significant clinical benefits and international competitiveness. We are delighted to collaborate with numerous investment institutions that share our vision. This round of financing will accelerate the advancement of Jonova’s clinical projects, facilitating the translation of more breakthrough basic biomedical research findings into innovative therapies to address unmet medical needs of patients.”
Dr. Ye Xiangsheng, Chief Scientist at Jonovastated: “Jonova prioritizes clinical value, the biological mechanisms of disease, and differentiated product development, adhering to a project initiation strategy driven by clinical value and product synergy. To this end, Jonova has established an industrialized translational medicine system, significantly enhancing early-stage development efficiency. With the mission of ‘developing original drugs to benefit patients,’ Jonova will accelerate its product R&D process, bringing greater hope to patients.”
Dr. Zhang Song, Founder of Qingsong Capitalstated: “We are delighted to support Jonova in advancing the development of its promising R&D pipeline. We believe that significant opportunities remain in the global oncology therapeutics landscape, and we endorse the company’s strategic approach—building an industry-driven translational medicine system and implementing a global R&D layout.”
Since its inception, the company has focused on the tumor microenvironment and immune modulation, building a pipeline with strong synergy between “immunotherapy + targeted therapy.” The clinical development of each drug is progressing in an orderly and rapid manner, and the product portfolio is gradually expanding, demonstrating the strong execution capability of the company’s management team. We look forward to the company gradually becoming a leading innovator in oncology therapeutics in China and globally, bringing benefits to patients and realizing its vision and value.
Dr. Xing Zhibin, Shenzhen Capital Groupstated: “Jonova’s team is a world-class R&D group specializing in innovative oncology drugs, with experienced scientists deployed across all stages of new drug development. The company has established a robust translational medicine R&D platform that continuously contributes high-value product pipelines; these pipelines hold global rights and place strong emphasis on synergies. The company’s overall development strategy aligns closely with current policy directions and development trends in the pharmaceutical industry, and we are highly optimistic about its future growth potential.”
Qingsong Capital is a specialized private equity investment firm focused on the biotechnology and healthcare sectors. Its management team possesses extensive experience in the medical industry and private equity investment, committed to growing alongside the most innovative biomedical enterprises and driving technological and commercial innovation in China’s life sciences and healthcare industries. Since its inception, Qingsong Capital has adhered to a research-driven investment strategy, deeply cultivating areas such as biotechnology, pharmaceuticals, medical devices, innovative healthcare services, and the intersection of the broader health industry with frontier technologies, while actively participating in the development of its portfolio companies. The fund has completed investments in numerous industry-leading projects, including United Imaging Healthcare, SinoCellTech (688520.SH), Ascentage Pharma (6855.HK), Vazyme Biotech (301047.SZ), Haodf Online, Clarity Medicine, Majie Translational Medicine, and CureGenomics.
Shenzhen Capital Group Co., Ltd. is committed to discovering and empowering great enterprises, striving to be a discoverer and cultivator of innovative value. Since its establishment in 1999, SCG has managed total assets exceeding RMB 400 billion, invested in more than 1,000 innovative high-tech companies, among which 194 have achieved public listings. Its portfolio spans industries such as information technology, internet, biotechnology/healthcare, new energy/energy conservation and environmental protection, new materials, intelligent manufacturing, and consumer goods/modern services, covering the entire lifecycle of enterprises.
The Greater Bay Area Common Home Development Fund was jointly established by major international industrial institutions, financial institutions, and new-economy enterprises. It aims to seize historical opportunities arising from the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the construction of an international science and technology innovation hub. Focusing on fields such as biomedicine, technological innovation, industrial upgrading, quality of life, and smart cities, the fund covers the entire project lifecycle—including venture capital, private equity, investments in listed companies, and mergers and acquisitions. It provides financial support to top-tier entrepreneurs and enterprises, facilitates access to industrial and financial resources, delivers long-term returns to shareholders and investors, and contributes positively to economic and social development.
Deyi Capital focuses on the modern service industry, prioritizing investments in healthcare, information services, consumption upgrades, and other sectors. The management team brings years of experience in investment, investment banking, and industrial operations, boasting extensive market resources and specialized post-investment service management within the industry. In the field of oncology treatment, Deyi Capital has invested in multiple innovative biopharmaceutical companies, including Zeltis Pharma (688266.SH), Allist Pharmaceuticals (688578.SH), Cosmo Biosciences, Yifang Biotechnology, Zenith Therapeutics, Mingji Bio, FineBiologics, and Yingli Pharmaceuticals.
Lilly Asia Ventures (LAV), established in 2008, is a leading venture capital fund focused on investments in the life sciences and healthcare sectors, with offices in Shanghai, China; Hong Kong, China; and Silicon Valley, USA. LAV is committed to being a trusted partner for exceptional entrepreneurs seeking smart capital, co-creating great companies that develop breakthrough products to combat diseases and improve human health.