Chinese biopharma startup Sinovent closes $145m Series C round

Laboratory equipment. Photo: Pixabay

Chinese biopharmaceutical startup Sinovent has raised 1 billion yuan ($145 million) in a Series C round of financing co-led by Loyal Valley Innovation Capital.

Sinovent, which has built affiliates in Australia and the United States, roped in new investors including Hong Kong-based investment manager Oceanpine Capital and China’s Jiuyo Capital, which primarily invests in advanced technologies and healthcare firms.

CICC Qide Innovation Biopharmaceutical Equity Investment Fund, a biomedicine fund with over 1.6 billion yuan ($229 million) under management, and other investors also participated in the deal.

Founded in 2016 and based in eastern China’s Suzhou city, Sinovent is engaged in the technical development, consulting and services of biological medicines covering therapeutic areas like oncology, autoimmunity, infectious diseases and others. It has a presence in Suzhou, Beijing, Shanghai, Boston and Sydney.

The startup developed a pipeline of biological medicines, including four products at the clinical stage in China and internationally. It also has four candidates under IND studies that are performed to secure approval to conduct the first-in-human clinical trials with a new drug, according to the statement.

Sinovent will use the new proceeds to promote the ongoing clinical trials of its new products at home and abroad, the pre-clinical studies of earlier-stage products and the construction of a new production base.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.