Lilly Asia Ventures co-led a series A round for ProfoundBio that will help it develop its novel technology and targeted cancer therapeutics.
China-based cancer treatment developer ProfoundBio raised over $55m on Monday to close a series A round co-led by Lilly Asia Ventures, a corporate venturing unit for pharmaceutical firm Eli Lilly.
Investment firm Lyfe Capital co-led the round, which also featured Sequoia Capital China, Oriza Holdings, K2VC, Gaorong Capital and Chang’an Capital.
ProfoundBio is working on antibody-drug conjugates (ADCs) for the treatment of patients with cancer. It will use the funding to speed up the enhancement of its technology platforms for…
