Peking University-backed Yanchuang Capital co-led a series A round for Innoforce Pharmaceuticals that will support the construction of manufacturing facilities.
Innoforce Pharmaceuticals, a China-based biopharmaceutical firm, attracted $96m in a series A round co-led by Peking University-backed Yanchuang Capital on Monday, DealStreetAsia reported citing a WeChat post.
South China Venture Capital co-led the round, which also attracted existing backer Quan Capital.
Founded in 2018, Innoforce partners pharmaceutical firms for product development and operations management. Its aim is to drive the commercialisation of drugs in China, the US and Europe.
It runs a biotech innovation park and will use the cash to build cell and gene therapy production facilities and a monoclonal antibody manufacturing facility.
The first phase of the campus’ construction is scheduled to be completed by the end of this year, before staged good manufacturing practices operations start in 2022.
Guangzheng Zhongli Investment, a joint fund run by Bohe Angel and Everbright Securities, supplied $24m of pre-series A funding in June 2020.
