Innovent Biologics, Inc., an innovative company at Biobay in Suzhou Industrial Park, announced on January 22 that the company had raised $100 million in Series C financing by Legend Capital and Singapore-based Temasek, and its original investors the US-based Fidelity, Lilly Asia Ventures and Frontline Bioventures, and other investors. It is reported that this financing amount leads in China's present bio-med industry and global non-IPO financing. 

The company engaged in development and production of monoclonal anti-body drug was founded in 2011 by Micheal Yu, an expert of "The Recruitment Program of Global Experts", and it will pool the financing raised this time in new drug development and high-standard operation of manufacturing plant.

So far, Innovent has set up a production chain covering 10 anti-body new drugs to treat such diseases as tumors and autoimmune disease, and has submitted 7 applications for clinical tests, with the first applied targeting at NHL (non-hodgkin lymphoma) already been put in clinical research and other two listed as national major new drug development projects.

In the year 2011, Innovent joined hands with SIP and SIP Biotech Development Co., Ltd. to build an international-standard high-end bio-med industrialization base with the largest scale in Chinese mainland, and at present its 93,000-square-meter plant has been put into use. Innovent also has a team of international talents, who have worked for many years in top international bio-med companies such as Amgen, Genentech, BMS, Merck, Abbott and Roche, and were in the loop for development of Oncorine, Conbercept and Humira. Recently, Michael Yu was elected as a "Top Ten Person of the Year of Innovation China in 2014".