Chinese drug maker SciNeuro Pharma raises $100m co-led by LAV, Arch Venture Partners

SciNeuro Pharmaceuticals, a Chinese manufacturer of drugs for central nervous system (CNS) diseases, said that it has garnered $100 million in a Series A round funding jointly led by Lilly Asia Ventures (LAV) and Arch Venture Partners.

LAV is a Shanghai-based biomedical venture capital firm, while Arch Venture Partners is a US investment firm with a focus on life sciences, information technology, and physical sciences.

The latest funding round also saw participation from US global growth equity investor General Atlantic, Sequoia Capital China, Boyu Capital, life sciences-focused TF Capital, and Zoo Capital, SciNeuro announced on December 9.

SciNeuro will invest the latest funding proceeds in shoring up its pipeline in the Greater China region.

Founded in 2010 by Min Li — a venture partner at LAV, and a former hand at Johns Hopkins Medicine and GlaxoSmithKline — SciNeuro is dual-headquartered in Shanghai and Philadelphia. It has developed a portfolio pipeline through global and regional partnerships.

“One in every six people in China is living with a CNS condition, yet there are relatively few effective treatments available, underscoring the urgent need to develop and deliver novel, effective therapies. The impact of CNS diseases extends beyond patients – to their families and society as well,” said Min Li, who serves as the company’s CEO, in the statement. 

In a similar deal in November this year, LAV had joined hands with Hillhouse Capital’s venture capital unit GL Ventures and Quan Capital to co-lead a $50 million Series A round financing in Chinese ophthalmic drugs maker Eluminex Biosciences Limited. 

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.