Sinovent Inc., a Suzhou-based biopharmaceutical company, has announced the successful completion of a Series E financing round, raising RMB 700 million (USD 97.2 million). The round was co-led by Tencent Investment and Guoxin Investment, with additional contributions from Jinan Industrial Development Investment, Huakong Investment, Yuekai Securities, Sea of Stars Capital, Pudong Venture Investment, and existing investor Loyal Valley Capital, among others. The funds will be utilized to advance domestic and international clinical trials, enhance targeted therapy, anti-infection, and PROTACT technology platforms, expedite manufacturing plant operations and commercial team development, and facilitate product launches.
Established in 2017, Sinovent has a robust product pipeline that includes BLI inhibitors, EZH2 inhibitors, hURAT1 inhibitors, and next-generation ADCs, with therapeutic indications for tumors, multidrug-resistant bacterial infections, and metabolic diseases. Its new generation β-lactamase inhibitor, XNW4107, a broad-spectrum antibiotic resistance drug, is currently undergoing a global, multi-center Phase III study. The novel uric acid lowering drug XNW3009 has entered Phase III trials, demonstrating superior uric acid-lowering effects compared to benzbromarone and febuxostat in prior studies. Moreover, the EZH2 inhibitor XNW5004 has exhibited outstanding anti-tumor efficacy in indications such as hematomas and prostate cancer and is currently in Phase II studies.- Flcube.com
