Cinda completed a $ 260 million Series D round of financing to phase III clinical development of bio-analogs and innovative monoclonal antibodies in the pipeline by the end of 2016. According to the well-known medical media Endpoints website reported on January 16, Cinda Bio Also began a new round of financing plan to seek IPO market to raise about 200 million US dollars.
Endpoints Cited Bloomberg News, Cinda Biology is currently working with investors to conduct a round of pre-IPO funding (pre-IPO funding). It is reported that Cinda biological valuation of more than 1 billion US dollars, is already a unicorn-level biopharmaceutical company. Among the investors that Cinda is communicating with are Capital Group, a prominent asset management company from the United States, which Capital Group is known for providing financial services to start-ups in emerging markets.
Bloomberg did not disclose more details, but disclosed that Cindal's management is currently weighing the company's place of listing in the United States and Hong Kong to make a choice, Cinda Bio and Capital Group declined to comment on Bloomberg's comments.
Cinda Bio was established in August 2011. Dr. Yu Dechao, the founder, has been engaged in the research of bio-pharmaceutical innovation for nearly 20 years. It is the only Chinese scientist that has invented two "new drugs of the national class" in China and has resulted in the development of new drugs, including the well-known wet age for treatment Related categories of macular degeneration of a biological innovator Compaq Xip. Cinda biological current investors include Fidelity Investment Group, Singapore Temasek, SDIC innovation, China Ping An Insurance Group.
Cinda Bio has created a product line that includes 12 new antibody drugs that cover the four major disease areas of oncology, autoimmune diseases, ocular fundus diseases and cardiovascular diseases, etc. Anti-PD1 (IBI308) In China, it is the first domestic PD-1 monoclonal antibody to be submitted for listing application.In addition, anti-CD20 monoclonal antibody injection (IBI301), anti-TNF-α monoclonal antibody injection (IBI303) Mabs (IBI305) have also been entered into clinical Phase III studies
Source: China biotech unicorn Innovent in talks on $ 200M IPO and new funding - report
