Lilly Asia Ventures leads $90m Series B in clinical-stage biotech firm Regor

Regor Therapeutics, a clinical-stage biotech company with operations in China and the US, has secured $90 million in a Series B round of financing led by the biomedical venture capital (VC) firm Lilly Asia Ventures (LAV).

The new round saw participation from investors including China-focused private equity (PE) firm Loyal Valley Capital (LVC); cross-border, pharmaceutical-focused PE Lanting Capital (LVC); TF Capital, which primarily invests in early-stage life sciences startups; and Vertex Ventures China.

Chinese drug maker Qilu Pharmaceutical Group had backed Regor’s Series A round.

Founded in July 2018, Regor specialises in the discovery and delivery of clinically differentiated, best- and first-in-class drugs for patients globally to treat cancer, immune disorders, and metabolic diseases.

The startup leverages its proprietary Computer Accelerated Rational Discovery (CARD) platform to seamlessly integrate structural biology, computational chemistry, therapeutic biology, medicinal chemistry, and clinical development. It has advanced numerous discovery programmes from ideas to a clinical start in two years.

The fresh capital will be used to fund the firm’s R&D of new drug molecules, clinical research, and development of its subsequent product pipeline.

The new financing puts Regor “in a strong position to advance pre-clinical and clinical studies of multiple programmes,” said Qiu Xiayang, the company’s founder and CEO, in a statement. “We are looking forward to long-term collaborations with our investors, as we aim to improve the treatment outcomes for worldwide patients of chronic diseases, cancer, and other life-threatening diseases.”

The lead investor, LAV, is in the market raising two new funds: LAV Fund VI, which aims to raise $900 million, and LAV Fund VI Opportunities, with a target of $450 million, the firm revealed in two filings with the US Securities and Exchange Commission (SEC) in January.

LAV already received capital commitments from limited partners (LPs) like US pension fund San Francisco Employees’ Retirement System (SFERS), and US retirement fund manager Los Angeles County Employees Retirement Association (LACERA).

The two new funds will primarily make venture, growth, and public equity investments in the biomedical industry, with a focus on China and the US. The vehicles will invest across different stages ranging from early-stage to public listed equities, but they plan to place a great emphasis on early-stage investments.

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.