Denovo Biopharma Closes ￥300M Series B Funding Round, To Accelerate the Development of New Drugs

According to Yiou.com, Denovo Biopharma announced a ￥300M Series B funding round co-invested by Jiuyo Capital, Sangel Venture Capital, Share Capital, Zheshang Chanrong, Yuexiu Fund, Cci Capital and Wenfang Technology. CEC Capital serves as the financial adviser in this round of financing. Proceeds from this financing will be used to carry out the Phase 3 studies of a kind of drug for the Diffuse Large B-Cell Lymphoma (DLBCL) and other products in the pipeline globally.

After the completion of this financing, Denovo Biopharma has opened Pre-IPO financing to support its Phase 2b studies for glioblastoma (GBM). The company will finish the share reform by the end of the year and prepare for the listing.

Founded in 2012, Denovo Biopharma is a privately held biotech company providing a novel biomarker solution to personalize drug development. Its core technology is the industry's first platform and algorithm to discover genomic biomarker retrospectively using archived clinical samples. This technology is especially useful for late-stage clinical drugs that have completed trials with unsatisfactory efficacy. 

By identifying biomarkers correlated to patients' responsiveness to drug candidates retrospectively, Denovo Biopharma enables biotech and pharmaceutical companies to design new clinical trials in a targeted patient population to achieve stronger efficacy and less adverse effects. Its platform can be broadly applied to biomarker discovery in many therapeutic areas, such as oncology, metabolic, cardiology, immunology, and neurology.

Founded by more than 100 partners with financial and industrial background, Jiuyo Capital is an equity investment firm. The company has three main business segments: investment management, FA services, and financial consulting. 

Jiuyo Capital mainly invests in the field of AI technology, communication technology, new materials, advanced manufacturing, innovative drugs, and precision medicine. 

Founded in 2000, CEC Capital Group (formerly known as China eCapital Corporation) is a leading investment bank in China with a core focus on the TMT, consumer and healthcare sectors. Headquartered in Beijing with offices in Shanghai, Los Angeles, and San Francisco, the company provides M&A, capital raising, and asset management services to our clients both in and outside of China. CEC Capital is currently managing an RMB fund and a US dollar fund, with a total AUM close to $500 million.