Denovo Biopharma nets nearly RMB600m in Series C round

2020-06-30
|
Isiah Liu

Denovo Biopharma nets nearly RMB600m in Series C round

Precision medicine company Denovo Biopharma announced the completion of a 590 million yuan Series C round of financing on June 29.


The round was led by Zhongjin Qide Innovative Biomedical Equity Investment Fund, with participation from existing investors Jiuyou Capital, Share Capital, CITIC Securities and Sangel Capital, as well as new investors including Yingke PE, Guozhong Capital, among others.


Denovo Biopharma is an international company developing a class of novel drugs with a unique model of innovative, rapid and effective development. The company currently holds global rights to six late-stage clinical development products in oncology and psychiatric diseases (DB102 - DB107), all of which are First in Class drugs.


Dr. Luo Wen, Chairman of Denovo Biopharma, said, "In the past year, Denovo Biopharma has made great strides, doubling its development pipeline and discovering for the first time DGM4, a biomarker that can predict the efficacy of new psychiatric drugs."


"This series of breakthroughs has resulted in four international multi-center clinical trials being conducted simultaneously, marking an explosive growth phase for the company. The financing round provides sufficient capital for the next phase of our development and establishes the foundation for further expansion of the drug pipeline.”


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