In brief: InventisBio raises $70m to advance candidates to phase 2 trials

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Shanghai biotech company, InventisBio, has raised $70 million in Series C financing to help accelerate the development of its clinical candidates into phase 2 trials.

The financing, which was co-led by Advantech Capital and CMBI, will also help the company develop first-in-class drug candidates into clinical stage.

“Our goal is to develop innovative drugs with our own intellectual property rights, to achieve global drug approvals based on international multi-centre clinical trials for diseases with unmet medical needs,” said Yaolin Wang, Chairman and CEO of InventisBio.