Delova Biotech Snares ￥50M in Pre-A Round

According to PEdaily.cn, Nanjing Delova Biotech Co., Ltd. ("Delova Biotech") has recently, a company focusing on the R&D of improved drugs of pain medications, announced the completion of a Pre- A round worth nearly 50 million yuan. This round of financing was led by Legend Capital, with participation from the existing investor Indaco Capital in the angel round.

Delova Biotech mainly produces non-opioid analgesics. Proceeds from the latest round will mainly be used to promote the IND application and early clinical trials of existing projects, further expand the team, enrich the R&D pipeline, and accelerate product development.

Delova Biotech is a specialty branded pharmaceutical company, focusing on the development of proprietary formulations of injectable drug products to fulfill unmet medical needs in China and the US. The company has a diverse product pipeline built on the advanced patent-protected XisGel^® drug delivery platform. The platform is applicable to therapies for many diseases, including pain management, hormone replacement, oncology, etc.

 So far, the front runner of products developed by Delova Biotech has entered the preclinical stage with the expectation of providing long-acting, highly effective, non-opioid analgesics to improve patient quality of life.

There are unmet clinical needs in the field of pain management. The existing analgesics are mainly opioids and nonsteroidal anti-inflammatory drugs (NSAIDs). However, opioids have caused a global crisis due to their severe addiction, while NSAIDs have weak analgesic efficacy and are mainly used for mild and moderate pain. At present, non-opioid analgesics with long-acting and powerful effects are urgently needed clinically.

Established in April 2001, Legend Capital is an independent professional Venture Capital firm under Legend Holdings. Legend Capital focuses on early-stage venture capital and expansion-stage growth capital investment. The company is now managing several USD funds and RMB funds with a total AUM of 45 billion yuan.

Founded in 2015, Indaco Capital is headquartered in Beijing. The company focuses on investment in biomedicine, medical devices and medical services. Based on rich industrial resources, management experience and financing solutions, the company will provide assistance to the investee at all stages of development.