Caixin
BUSINESS & TECH

Cancer Drug Maker Innovent Aims to Raise $150 Million

By Wang Luyao, Qu Yunxu and Han Wei
Innovent Biologics Inc. has raised a total of $490 million since its debut in 2011 from a long list of well-known global investors, include Lilly Asia Ventures and Temasek Holdings. Photo: Visual China
Innovent Biologics Inc. has raised a total of $490 million since its debut in 2011 from a long list of well-known global investors, include Lilly Asia Ventures and Temasek Holdings. Photo: Visual China

Chinese biopharmaceutical company Innovent Biologics Inc. is in talks with investors to raise $150 million ahead of a planned initial public offering, people close to the company’s management told Caixin.

The Suzhou-based cancer-drug maker is valued at more than $1 billion in the pre-IPO funding round, according to the sources. The company plans to list this year on either the U.S. or Hong Kong stock exchange, sources said.

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