VivaVision Raises ￥300 Million in Series D Funding Round

(VCBeat) Apr. 19, 2021 -- VivaVision Biotech, Inc.（"VivaVision"）, a leading innovative ophthalmic drug developer in China, announced the completion of an RMB300 million Series D financing. The investment will enable VivaVision to accelerate the clinical development of several innovative ophthalmic products, including the ongoing Phase II study of VVN001 as a treatment of dry eye in the US.

The latest round was led by Sequoia Capital China The new investors include Cenova Capital, GTJA Investment Group, FengHe Fund, Spinnotec, CFS Capital and Tibet Ruihai that join the existing group of JMCR, Changrong Capital, and Beida Industry Fund. WinX Capital continued to act as the financial advisor in this transaction.

Founded in 2016, VivaVision is a clinical-stage R&D biopharmaceutical company. Our goal is to become the leading company of innovative medicines to treat topical diseases. We're focused on delivering new therapies to millions of patients living with chronic ocular or dermal inflammatory diseases. We have an experienced team with a track record of success. Combining our world-class expertise and promising drug targets, we are able to create best-in-class and the first-in-class therapeutics to fulfill unmet medical needs.

VivaVision closed on 20 million yuan Series A financing in 2016, 50 million yuan Series B financing in 2018, and 65 million Series C financing in 2019.

Dr. Shen Wang, the founder and chairman of VivaVision, said, "We are very grateful for the constant trust and support of the investors. With the joint efforts of all shareholders and the management team, VivaVision will provide safer and more effective innovative treatments for patients worldwide as soon as possible."

Dr. Cuiping Ku, the managing director of Sequoia Capital China, said, "Sequoia Capital China has always been concerned about unmet needs in the ophthalmology sector. We are impressed by VivaVision's outstanding experience and insight in ophthalmic drug development. We look forward to seeing Dr. Shen lead the company to become a world-class innovative ophthalmic drug company."

Sequoia Capital China is a VC firm focused on seed-stage, mid-stage, late-stage, and growth investments in the fintech sector.

Formed in September 2005, Sequoia Capital China has an impressive and diverse portfolio comprising about 300 dynamic companies that deliver high returns on investment using differentiated technologies and innovative business models, including Alibaba, VIPshop.com, Sina.com, Didi, JD.com, Ourpalm, Qihoo 360, Jumei, Momo, and so on.

Cenova Capital is one of the earliest healthcare dedicated funds in China founded in 2010 and is one of the earliest investors in private healthcare services and digital health. Currently, Cenova Capital has five funds under management and invested in over 50 companies with a proven track record across three funds.