InventisBio reels in $147M to push gout and breast cancer drugs along – Endpoints News

Posted: September 28, 2020 at 2:57 pm

A year and a half after landing a $70 million Series C round, Shanghai-based InventisBio has more than doubled that amount in a hefty Series D.

Merck vet Yaolin Wang launched Inventis from scratch back in 2015. In 2017, the biotech had 7 staffers, a $19 million Series B and an ambitious two- to three-year timeline to its first approval. While the company has yet to snag a regulatory OK, its lead candidate targeting EGFR T790M mutations is currently in registrational trials as a first- and second-line treatment in non-small cell lung cancer.

Those trials, the company said, are progressing smoothly.

The $147 million Series D will be used to give the biotechs gout and breast cancer drugs a big push.D-0502, an oral selective estrogen receptor degrader (SERD) and estrogen receptor antagonist, is currently in Phase I development for hormone receptor-positive breast cancer. D-0120 is in Phase I for gout. Wang plans to launch both candidates into Phase II trials in China and the US.

The D round was led by Hillhouse affiliate GL Ventures. Returning investors Lilly Asia Venture, OrbiMed Asia, Pudong Innotek, AdvanTech Capital and CMB International chipped in, as well as new investors Qiming Venture Partners, Janchor, AIHC Capital, Matrix Partner China, Dyee Capital and E Fund Capital.

In 2017, upon announcing its Series B, InventisBio also said it was developing drugs that can be combined with other immune-oncology targeted therapies, such as PD-1 antibody, for various cancer indications. A year later, the biotech agreed to out-license its NSCLC candidate to Betta Pharma for 230 million ($33.7 million). The deal gives Betta Pharma exclusive commercialization rights in China, while InventisBio keeps its options in other regions of the globe.

InventisBio is committed to developing first- and best-in-class innovative drugs for cancer and other major diseases, Wang said in a statement.

InventisBio reels in $147M to push gout and breast cancer drugs along - Endpoints News

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