Week In Review: Inventis Closes $70 Million Financing To Develop 30 Novel Therapeutics

InventisBio of Shanghai closed a $70 million Series C financing co-led by Advantech Capital and CMBI, followed by Pudong Innotek (see story). Founded in 2013, InventisBio focuses on discovering and developing novel therapeutics for cancer and metabolic diseases. The company has close to 30 programs in development, including two under China NDA review. Previously, InventisBio raised $25 million in two venture rounds led by Lilly Asia Venture and OrbiMed Asia, who both participated in the C round.

BGI Genomics (SHZ: 300696) of Shenzhen formed a $50 million partnership with US-based Natera (Nasdaq: NTRA) to commercialize Natera's Signatera™ MRD (minimal residual disease) test in China (see story). Natera says Signatera is the first circulating tumor DNA test designed to monitor molecular treatment and assess MRD. The two companies will also work together to develop reproductive health tests in select markets on BGI's sequencing instruments using its DNBseq™ NGS technology platform. Under the 10-year agreement, BGI will pay Natera $50 million, made up of upfront licensing fees, prepaid royalties, and future milestones.

Newsoara Biopharma of Shanghai signed a $26 million agreement with TaiwanJ Pharma that gives Newsoara rights to develop a treatment for nonalcoholic steatohepatitis (NASH) in Asia (except for Taiwan) (see story). The candidate, JKB-122, is a long-acting small molecule TLR4 antagonist that has shown anti-fibrotic, immuno-modulating and anti-inflammatory activity in various chronic liver diseases. JKB-122 is currently in a Phase II trial. TaiwanJ will receive a $2 million upfront payment and up to $24 million in milestones.

Shanghai Changren Information Technology, a China IT health management company, raised $15 million in a Series A funding round led by an unnamed state-owned enterprise, according to press reports (see story). Founded in 2016, Changren provides health management services for individuals and institutions based on its whole life cycle dynamic physiological big data. The company's major product, a home medical robot called "Xiaobao," takes a patient's vital signs at home, transmits them to a cloud platform, and provides medical guidance (medication, diet, and exercise recommendations) through voice broadcasts or short videos.

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