Novlead Biotech, a specialist in nitric oxide gas detection and treatment based in Nanjing, has successfully completed a Series B+ financing round, raising RMB 100 million (USD 14 million). The round was led by Costone Asset Management, with significant contributions from Guanghua Holding, JYTH Investment, Lilly Asia ventures, and 3E Bioventures.
Company Background and Product Innovations
Founded in 2018, Novlead Biotech has made significant strides in the field of nitric oxide therapy. The company boasts the portable NO inhalation therapy instrument “INOwill,” a Category III device that was approved for marketing in China in 2022. This innovation marks a significant advancement in the delivery of nitric oxide therapy, offering a more convenient and portable solution for patients.
Implications of the Financing Round
The successful Series B+ financing round will enable Novlead Biotech to further develop its product portfolio and expand its market presence. With the backing of prominent investors, the company is well-positioned to continue its research and development efforts, potentially leading to new breakthroughs in gas detection and treatment technologies.-Fineline Info & Tech
