Kanova Biopharma Scoops up $10 Million in a Series B Financing

(VCBeat) July. 13, 2021 -- Suzhou Kanova Biopharmaceutical Technology Co., Ltd. ("Kanova Biopharma") announced that it has recently raised tens of millions of dollars in a Series B financing, led by CD Capital, with participation from 3H Health Investment, Zhongxin Industrial Investment, and the existing investor Lotus Lake Ventures. The funds raised in this round will be used to accelerate the development and advancement of Kanova Biopharmaceutical's clinical programs and several preclinical programs.

Kanova Biopharma was founded in 2015 by Prof. Dong Chen, the founding president of Shanghai Institute of Immunotherapy Innovation, professor of the School of Medicine of Tsinghua University. Based on the international cutting-edge immunology research, the company focuses on the development of macromolecular drugs in the field of autoimmune diseases and immune tumors. Kanova Biopharma is committed to making innovative drugs originating in China and facing the global market with independent intellectual property rights, so as to provide patients with the world's first or the best treatment program of the same kind.

Since its establishment nearly six years ago, Kanova Biopharma has owned a number of R&D projects with independent intellectual property rights, and its product pipeline covers a wealth of indications in the field of autoimmunity and oncology. The innovative anti-IL17A /F antibody program has entered the clinical stage for multiple indications. Meanwhile, a first-in-class drug program has been submitted for IND in China and the United States and is expected to enter clinical trials soon.

CD Capital is a venture capital firm specializing in life sciences and medical technology. They are currently managing both RMB and USD funds with a total size of $600M. The company has made over 50 investments with high growth potential and earned a reputation as a premier venture capital firm with the main focus on China healthcare industry.

3H Health Investment is a dedicated healthcare private equity fund focusing on China. The company invests in pharmaceutical, healthcare services, medical devices, healthcare consumption, and other fields.