InnoCare Raised $160 Million to Advance Innovative Medicines
04 Jan, 2019874
InnoCare is an innovative biotech company rooted in China with a global vision, focusing on the development of innovative drugs for targeted therapy, immuno-oncology and autoimmune diseases. The company's core R&D team comes from the world's top pharmaceutical companies, and its Scientific Advisory Board is composed of experts in biomedicine research, new drug development and clinical research. InnoCare has established fully-integrated new drug research and development centers in Beijing and Nanjing, with groundbreaking of a world-class manufacture facility in Guangzhou. InnoCare has made significant progresses in its pipeline with drug candidates at different stages of pre-clinical and clinical development. ICP-022 is a novel BTK inhibitor with global intellectual property rights. InnoCarehas launched multi-center, multi-indication clinical studies in China. Two other new drug candidates are undergoing clinical trials as well.
After the closing of this round of financing, InnoCare will continue to promote the clinical research of ICP-022 and other candidates under development. The company is expanding its pipeline through internal research and external collaboration to accelerate drug candidates into the market. Meanwhile, InnoCare continues to attract and cultivate talents of various fields to develop innovative medicines with high-quality for the benefit of Chinese patients as well as global market.
Dr. Jisong Cui, co-founder, Chairwoman and CEO of InnoCare said: “We are very honored to receive recognition and support from top domestic and international biopharmaceutical investment institutions. Our initial intention has never been changed as toprovide efficacious and safe new drugs for patients suffering with cancers and autoimmune diseases. The latest funding will be used to support clinical development and to strengthen our R&D pipeline to provide better drugs to patients in need. "
Mr. Lin Lijun, partner of Loyal Valley Capital (LVC), said: "We are very honored to support InnoCare continuously. LVC is dedicated to investing in great companies, and we focus on supporting entrepreneurs who pursue excellence through long-term sustained efforts. InnoCare has a leading new drug development platform, with experienced research and development team. Its R&D pipeline is very rich, which is in line with our investment philosophy to treat major diseases that humans are facing. We look forward to sharing our experience and resources with InnoCare in the next few years to help InnoCare grow into a global leader in innovative drug research and development.
About Loyal Valley Capital
Loyal Valley Capital (LVC), an advanced, international and dynamic investment management company. With the investment value of “long-term, focused and altruistic”, LVC is committed to supporting outstanding entrepreneurs and creating proud world-class enterprises through super-long-term investment and post-investment services through extreme research and in-depth operations. LVC has invested in more than forty outstanding companies, including Junshipharma, Sinovent, Teligene, Wtherapeutics, Genecast, Corning Hospital, Kanghua Hospital and other excellent enterprises in the biomedical industry.
Meanwhile it has invested in Bilibili, Logic Show, Toutiao, Didi Taxi, Happy Twist, Sunshine Insurance, Kaishustory, Linklogis, Supcon, and 81lcd, etc. These excellent companies focus on using technology and innovation to solve social problems and create social value.
About 3H Health Investment
3H Health Investment is rooted in the innovation and development of China's health industry, adhering to the three spirits of “Right person, right thing, right spirit” and building an ecosystem of innovative development through integration of policies, industry, clinical academics, research and development, and capital resources (Ecosystem). Focusing on the five themes of innovation, import substitution, industry consolidation, healthcare reform and China’s consumption upgrading and carrying out “initiative, pre-judgment and creative” value investment. Providing value-added services at key points in the growth of the company, working hand-in-hand with entrepreneurs to help the company develop rapidly and successfully, and achieving excellent return on investment for the fund.
About Epiphron Capital Fund II, L.P.
Epiphron Capital Fund II, L.P. is a partnership fund of internationally renowned family funds focusing on large consumer sectors (including medical health and technological innovation). It has offices in New York, Boston, London, Hong Kong, and Beijing. The parent institution of the Epiphron Capital is the Linsegoburg investment fund, which is the top 20 private equity funds in the United States. In the family-owned manufacturing industry of technological innovation, it has become the number one investment fund managing $20 billion assets, mainly investing in high-growth enterprises in the global medium-sized family holding system, bringing rapid growth and financial support and comprehensive value-added services to enterprises. One of the world's most famous family funds, the Besimo family, is our largest shareholder. The Cold Spring Harbor (Guangzhou) Biomedical Industry Investment Fund managed by the Epiphron Capital is an investment fund focusing on China's medical health, especially biotechnology and medical technology. It is also the only fund supported by the prestigious cold spring harbor laboratory in the field of life science in China.
About Vivo Capital
Founded in 1996, Vivo Capital is committed to investing in and establishing high-quality companies in the life sciences and health care sectors in the US and China. Vivo Capital manages more than $2.2 billion in funds and discovers and invests in potential companies through a unique multi-angle investment strategy. In the United States, Vivo mainly invests in companies with innovative therapeutic products. In the Greater China region, they focus on life sciences and healthcare industry companies that are entering the growth stage. Vivo Capital has offices in Palo Alto, California, Beijing, Shanghai and Taipei in Greater China.
About Shanghai Jianxin Capital
Shanghai Jianxin Capital is a venture capital fund specializing in the pharmaceutical and health industry. It has a professional biomedical investment team with rich experience in the medical and financial fields, and forward-looking investment layout based on industry trends for enterprises and investors.