ImmuneOnco announced the completion of Round B financing of $25 million
On October 10, 2020, ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd. announced the completion of round B financing of $25 million. This financing is led by Lilly Asia Fund (LAV) and followed by LYFE capital; the Round A investor, Li Cheng assets, continues to make additional investment.
"The financing is mainly used to rapidly promote the clinical trial research of IMM01 (SIRPa-Fc), IMM0306 (CD47xCD20 mAb-Trap) and IMM2510 (VEGFxPD-L1 mAb-Trap), as well as the subsequent preclinical studies of several monoclonal antibody and double antibody projects based on new targets." Dr. Tian Wenzhi, founder and chairman of ImmuneOnco, said: " ImmuneOnco has been adhering to the concept of taking patients as the starting point, relying on science and technology, and constantly developing clinical urgently needed, safe and effective tumor treatment schemes to fill the gap at home and abroad, so as to provide better treatment methods for tumor patients in the world. The success of this round of financing provides a strong guarantee for the rapid progress of clinical trials of new drug projects of the company. We are very grateful to the investors for their high recognition of our team and project. We firmly believe that the rich product pipeline, unique R & D technology platform and clinical development strategy of ImmuneOnco will have great investment potential and market prospect. ".
ImmuneOnco Biopharmaceuticals (Shanghai) Co., Ltd. was founded in June 2015 and registered in Zhangjiang High Tech Park, Shanghai. The company is mainly committed to the development and research of tumor immunotherapy products, including bispecific antibodies, new recombinant proteins, and TANKTM cell therapy. The company's first product, IMM01, and its second product, IMM0306, are in phase I clinical trial study. Several other double target specific protein drugs are in preclinical research stage.
About Lilly Asia Fund (LAV)
Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm founded in 2008, with offices in Shanghai, Hong Kong, and Palo Alto. Our vision is to become the trusted partner for exceptional entrepreneurs seeking smart capital and to build great companies developing breakthrough products that treat diseases and improve human health.
About LYFE Capital
Founded in 2015, LYFE Capital is a dedicated healthcare fund with $1.3 billion in assets under management. We are actively seeking healthcare companies with exceptional management teams and expansive vision geared towards global markets. Our investment focus spans biopharmaceuticals, medical devices, and diagnostics. We work closely with our portfolio companies to support their needs by providing capital and active support in global partnerships, collaborations, regulatory guidance and local market access. At LYFE Capital our portfolio companies are not just investments, but rather long-term partners.
About Li Cheng assets
Li Cheng assets was established in June 2007. The company has a complete product line: pipe fund, secondary stock market fund, new third board fund, hedge fund and overseas Greater China Fund. At present, Li Cheng has managed to issue more than 10 billion yuan of funds, including two funds established in 2016, focusing on the pharmaceutical field, focusing on new medical diagnosis, innovative drugs and high-end medical services. So far, Li Cheng has completed the investment layout of more than 10 high-quality enterprises. With years of secondary market accumulation, Li Cheng has rich experience in primary and secondary market linkage, and can provide longer-term investment and financing services for invested enterprises. Li Cheng adheres to the growth stock investment concept of pursuing safety margin, supports the development and growth of the best enterprises and entrepreneurs with a complete and unique investment management knowledge system accumulated for many years, contributes to the transformation and upgrading of China's industrial structure, and actively participates in promoting China's economic development and social progress.
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