Innovent Biologics recently announced that it had raised US$ 150 million in Series E funding. Capital Group Private Markets (CGPM), a world leading emerging markets private equity fund manager, led the round with an investment of US$ 90 million.

Founded in SIP in August 2011, Innovent Biologics has developed into a top developer of low-cost and high-effect biological drugs in the country, with 13 kinds of new drugs for tumors, ocular fundus diseases, autoimmune diseases and cardiovascular diseases in its lineup as well as great contributions to a host of national medical research programs.

Other investors include Temasek, Hillhouse, Legend Capital, Lilly Asia Venture, Taikang Insurance, Cormorant Asset Management, Rock Springs Capital and Ally Bridge Group. The fund will be used to accelerate and expand the company's clinical trial and application projects, and build a strong team to promote its new products.