Chinese drug discovery firm Hinova closes $147m Series C

Chinese drug discovery firm Hinova Pharmaceuticals Inc. has closed nearly 1 billion yuan ($147 million) in a Series C round of financing to support multi-centre clinical trials and the commercialisation of the firm’s drug candidates in China and internationally.

The round was backed by Shenzhen Investment Holdings, a state-owned investment firm in the southern Chinese city of Shenzhen; Chinese clinical contract research organisation (CRO) Hangzhou Tigermed; Beijing-based Huarong Rongde Asset Management; and Sinopharm-CICC, a healthcare-focused private equity fund jointly launched by CICC Capital and drug maker Sinopharm Group.

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