Eli Lilly leads ImmuneOnco to $89m series C

Mar 30, 2021 • Jordan Williams

Lilly Asia Ventures has returned to co-lead the cancer immunotherapy developer’s series C round with Greater Bay Area Homeland Investments.

China-based cancer immunotherapy developer ImmuneOnco Biopharma has collected at least $89m in a series C round co-led by Lilly Asia Ventures, a corporate venturing vehicle for pharmaceutical firm Eli Lilly, DealStreetAsia has reported.

Chinese state-backed private equity fund Greater Bay Area Homeland Investments co-led the round, which included investment holding company Shanghai International Group’s Shanghai Innovation Fund and existing backers Lyfe Capital and Zhangke Lingge Investment.

ImmuneOnco is developing immunotherapies intended to use macrophages and natural killer (NK) cells to…

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