Recently, Innolake Biopharm announced the closing of Series A1 financing over RMB100 million jointly led by WuXi Biologics Industry Fund, Heda Fund, and ZBJL Capital.

Innolake Biopharm is a clinical stage biotech company founded in 2020. It is dedicated to developing innovative drugs against cancer and autoimmune diseases. The company has established an independent research and development system for small molecules, biologics and innovative ADC drugs. Currently, there are two assets in the clinical trial stage, including an A2aR inhibitor for the advanced solid tumor therapy, which has already demonstrated positive clinical efficacy and excellent safety profile.

At the beginning of 2021, Innolake Biopharm secured nearly RMB 300 million in a pre-A round of financing, co-invested by CDH Investment, WuXi Biologics Industry Fund, Hangzhou Huaan Jingyin Investment and Huagai Capital.

Upon completion of this Series A1 financing, Innolake Biopharm will promote the R&D activities of its core first-in-class (FIC) and best-in-class (BIC) assets with outstanding competitive advantages, and continuously tap its innovation into anti–PD-1/PD-L1 immunotherapy resistance, tumor recurrence and metastasis, and more in-house generated ADC assets.

Dr. Mingde Xia, Chairman/CEO of Innolake Biopharm said:

"We are very grateful to the investment institutions for their trust and support. With the completion of A1 round of financing, we will efficiently accelarate the R&D activities of our FIC and BIC drug candidates. We will successfully convert innovative R&D achievements into significant clinical benefits for global patients. We will push science-driven innovation and overcome challenges and obstacles with all our efforts. Innolake Biopharma will light the hope of life for global patients and create even larger value for the society and the investment institutions.”

Yaoyun Kang, President of ZBJL said:

"Innolake carries out all-round innovation in new target mechanism, R&D technology platform, clinical development and business collaboration areas. Innolake has built up its in-house discovery system and core technology platforms for small molecules, biologics as well as ADC since it was founded two years ago. Two innovative drug assets in its pipeline have entered the clinical trial stage. Its rapid development originates from the global vision and strategic thinking of its founders, from the extensive experience of its core management team, and also from the efficient execution of its staff. We are honored to participate in this round financing and work closely with a highly motivated Innolake team. We and Innolake team will co-build it up into a China leading innovative pharmaceutical company with international influence, and we always strive together for lighting the hope of life for global patients.”