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

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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.

Yaolin Wang

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 biotech’s 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.

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