China’s Hinova Pharmaceuticals raises $147 mn; seeks business expansion
Summary
The Chengdu-based pharma company, which was established in 2013, has nine pipeline products covering cancers, metabolic disorders, and other disease fields. With the onset of the coronavirus, many Chinese pharmaceutical companies and healthtech startups in China have raised funding. Last month, pharmaceutical company XtalPi secured around $318.8 million in its Series C funding round led by SoftBank’s Vision Fund 2, PICC Capital, PICC Group and VC firm Morningside Venture Capital. Other investors that participated include CICC Capital, the private equity arm of investment bank China International Capital Corporation (CICC); an investment fund of CMB International (CMBI) and Seoul-based financial services firm Mirae Asset. The funding round for Sinovent was led by Loyal Valley Innovation Capital.