Baidu Ventures has backed the small molecule cancer therapy developer’s latest round, which came after a slew of healthtech and biotech investments made by the unit in recent months.

Baidu Ventures, a subsidiary of internet company Baidu, took part in a $75m series C round for China-based immuno-oncology therapeutics developer GenFleet Therapeutics on Friday, representing the unit’s latest biotechnology deal.

Private equity firm Huagai Capital led the round, which included Suxin Venture Capital, Cherami Investment Group, ABC International, Dyee Capital, Qiaojing Eastern Investment, Wenzhou Capital, Lake Bleu Capital, Panlin Capital, HM Capital, Shanjin Asset and CDH Venture and Growth Capital.

Founded in 2017, GenFleet is developing small molecule and…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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