International Finance
Featured Healthcare

China’s Hinova Pharmaceuticals raises $147 mn; seeks business expansion

Hinova Pharmaceuticals funding_IFM_Image
The funding round was led by Shenzhen Investment

China-based drug developer Hinova Pharmaceuticals has raised around $147 million in its Series C funding round, media reports said.

The funding round for Hinova Pharmaceuticals was led by state-owned investment firm Shenzhen Investment Holdings, Hangzhou Tigermed, Beijing-based Huarong Rongde Asset Management and Sinopharm-CICC.

Other investors that participated include China-focused fund manager Infinity Group, Founder H Fund and DNV Capital.

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.

XtalPi is an algorithm-driven artificial intelligence (AI) healthtech company that is reinventing the industry’s approach to drug research and development with its Intelligent Digital Drug Discovery and Development (ID4) platform. According to the company, the funding will be used to further develop XtalPi’s ID4 platform.

In August, biopharmaceutical startup Sinovent secured around $145 million in funding in its Series C funding round. The funding round for Sinovent was led by Loyal Valley Innovation Capital.

What's New

Business Leader of the Week: Meet Michael Bambang Hartono, Indonesia’s wealthiest person

IFM Correspondent

Australian unemployment rate rises more than expected in April

IFM Correspondent

IF Insights: Crises-ridden Egypt economy undertakes its much-needed course correction

IFM Correspondent

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.