InventisBio Secures $70 Million Series C Financing with China Renaissance as Exclusive Financial Advisor

Recently, InventisBio, an innovative drug developer dedicated to researching and developing proprietary therapeutics for major diseases such as cancer and metabolic disorders, announced the completion of a $70 million (approximately RMB 500 million) Series C financing round. The round was co-led by Shangcheng Investment and CMB International Capital, with participation from Pudong Sci-Tech Innovation Group and existing shareholders Lilly Asia Ventures and OrbiMed Asia Partners. China Renaissance served as the exclusive financial advisor for this financing.

The funds raised in this round will be primarily used to support the Company’s ongoing Phase 1b clinical trials for advanced breast cancer being conducted simultaneously in China and the United States, as well as its Phase 2 clinical trials for hyperuricemia and gout, and to advance the development of several preclinical “first-in-class” innovative drug candidates.

InventisBio is a rapidly growing biotechnology company co-founded by Dr. Wang Yaolin and several senior scientists. Its management team previously held positions at multinational pharmaceutical companies such as Merck & Co. and Schering-Plough, bringing an average of over 20 years of experience in leading preclinical and clinical development programs and team management at large global pharmaceutical firms. The team possesses profound and unique insights into the selection of target indications, therapeutic areas, and lead drug molecules, and has played key roles in advancing the launch of multiple blockbuster drugs, including Keytruda and Temodar.

InventisBio received angel investment from Meili Jingjie at its inception. In 2016, it secured Series A financing led by Lilly Asia Ventures, and in 2017, it completed Series B financing led by OrbiMed Asia Partners with participation from Lilly Asia Ventures. The company is deeply engaged in the fields of major diseases such as oncology and metabolic disorders. Starting from the perspective of addressing the limitations of existing therapies, it focuses on the research and development of “best-in-class” and “first-in-class” innovative small-molecule drugs to address unmet medical needs and benefit patients.

The Company possesses extensive regulatory, compliance, and operational expertise in clinical development in both the United States and China, demonstrating high efficiency in clinical trial execution by completing its first Phase I clinical trial in less than one year. Currently, the Company has three products undergoing clinical trials in both the U.S. and China, two of which have initiated Phase II clinical trials.

On December 28, 2018, the Company also announced that it had entered into a Cooperation Agreement with Beta Pharma, pursuant to which Beta Pharma acquired the rights to the D-0316 project in China (including mainland China, Hong Kong, and Taiwan) and obtained exclusive rights to develop and commercialize the D-0316 product within the agreed territory. D-0316 is a third-generation EGFR-T790M tyrosine kinase inhibitor independently developed by InventisBio, and is currently in Phase II clinical trials in China. Beta Pharma will pay InventisBio an upfront payment and subsequent R&D milestone payments totaling RMB 230 million, plus sales milestone payments and sales royalties upon product launch.

Dr. Wang Yaolin, Founder and CEO of InventisBio, stated, “We are deeply honored that InventisBio’s independent R&D and innovation capabilities have been recognized by top-tier global biotech investors and strategic partners. Since its establishment, InventisBio has achieved rapid growth in a short period. 2018 was a year of significant accomplishments for the company, marked not only by the successful completion of Phase I clinical trials in the United States for our gout medication D-0120, but also by the successful transfer of Chinese rights for our lung cancer drug D-0316. The InventisBio team will continue to strive for excellence in future R&D and clinical development, aiming to bring our high-quality targeted therapies to market as soon as possible to meet patients’ urgent clinical needs.”

Qiu Yumin, Partner and Co-Head of Healthcare Investment at Shangcheng Investment, a co-lead investor in this round, stated: “As an innovative drug R&D enterprise, InventisBio has a clear design philosophy, emphasizing the balance between innovation and druggability. It fully leverages the founding team’s technical expertise in small-molecule chemical structures, combines clinical experience, and pursues innovations with significant clinical value targeting well-validated drug mechanisms. After years of accumulation, the company has built a unique technology platform and a high-quality R&D pipeline. Notably, D-0316 (an EGFR T790M inhibitor) attracted the interest of Betta Pharmaceuticals, a leading listed innovative drug company in China, which has acquired the rights to the drug in the Chinese market. The target of D-0502, the estrogen receptor, is one of the hotspots in global pharmaceutical R&D, and the development progress of D-0502 ranks among the most advanced worldwide for its class of candidate drugs.”

Qiu Yumin stated, “Pharmaceuticals and healthcare are among the key investment sectors for Shangcheng Investment. InventisBio’s high technological barriers and highly extensible platform align well with Shangcheng’s investment philosophy. Shangcheng Investment is honored to support InventisBio in advancing the research, development, and clinical trials of its innovative drug candidates, thereby benefiting patients.”

Xie Yijing, Managing Director and Head of the Healthcare and Life Sciences Group at China Renaissance, stated, “China Renaissance is honored to have assisted InventisBio in successfully completing this round of financing. The InventisBio team boasts extensive experience in new drug development and exceptional execution efficiency. We believe that the success of this financing round will help propel the company’s development to a new level.”

Reprinted from: China Renaissance