Kanova, a China-based cancer and autoimmune disease therapy developer backed by conglomerate Legend Holdings, has raised RMB115m ($16.6m) in a series A round featuring Lotus Lake Ventures.

The round also featured Northern Light Venture Capital, Suzhou Kington Capital and Bioventure. Lotus Lake Ventures is a fund managed by Tsinghua University through its VC unit Hetang Venture Capital Management.

Founded in 2015, Kanova is focused on the development of antibodies targeting cancer and autoimmune diseases. The company’s first medicine for autoimmune diseases was licensed to biotechnology company Livzon Mabpharm for manufacturing in 2017.

Kanova has developed what it describes as three first-in-class drugs and one best-in-class drug, as well as earlier-stage products earlier targeting tumour immunity and autoimmune diseases. It currently has in place three patent collaboration agreements.

The series A cash will aid activities supporting investigational new drug status for Kanova’s earlier-stage candidates ahead of planned clinical studies. Kanova also hopes to fund the recruitment of more medical personnel.

Xiansheng Pharmaceutical Baijiahui Fund, a vehicle that appears linked to drug supplier Xiansheng Pharmaceutical, had joined Legend Star, the early-stage VC arm of Legend Holdings, for Kanova’s eight-digit renminbi (RMB10m = $1.4m) pre-series A round on an undisclosed date.

Suzhou Kington, Yuansheng Venture Capital and Mint Angel Fund also took part in the pre-series A round.

– A version of this article first appeared on our sister site, Global University Venturing.

China-based cancer and autoimmune disease therapy developer Kanova has raised RMB115m ($16.6m) in a series A round featuring Lotus Lake Ventures, an investment fund managed by Tsinghua University.
The round also featured Northern Light Venture Capital, Suzhou Kington Capital and Bioventure. Tsinghua manages Lotus Lake Ventures through its VC unit Hetang Venture Capital Management.
Founded in 2015, Kanova is focused on the development of antibodies targeting cancer and autoimmune diseases. The company’s first medicine for autoimmune diseases was licensed to biotechnology company Livzon Mabpharm for manufacturing in 2017.
Kanova has developed what it describes as three first-in-class drugs and one best-in-class drug, as well as earlier-stage products earlier targeting tumour immunity and autoimmune diseases. It currently has in place three patent collaboration agreements.
The series A cash will aid activities supporting investigational new drug status for Kanova’s earlier-stage candidates ahead of planned clinical studies. Kanova also hopes to fund the recruitment of more medical personnel.
Xiansheng Pharmaceutical Baijiahui Fund, a vehicle that appears linked to drug supplier Xiansheng Pharmaceutical, had joined Legend Star, the early-stage VC arm of conglomerate Legend Holdings, for Kanova’s eight-digit renminbi (RMB10m = $1.4m) pre-series A round on an undisclosed date.
Suzhou Kington, Yuansheng Venture Capital and Mint Angel Fund also took part in the pre-series A round.