SHANGHAI, July 25, 2022 /PRNewswire/ -- Qiming Venture Partners' portfolio company InventisBio (SHSE: 688382), a leading company in innovative drug development, today listed on the Science and Technology Innovation Board (the "STAR Market") of the Shanghai Stock Exchange. The issue price is CNY 18.12 per share, representing a market cap of CNY 10.419 billion.
Qiming Venture Partners invested in InventisBio in September 2020. The successful listing of the company marks the fourth IPO in Qiming's portfolio in 2022. InventisBio has become the ninth portfolio company listed on the STAR Market.
InventisBio is a China-based global biotech company dedicated to the research and development (R&D) of innovative drugs, with a focus on cancer, metabolic diseases and other major diseases. The company is co-founded by several professional experts with international backgrounds. InventisBio's core R&D team members have an average of more than 20 years of experience in innovative drug R&D and team management in multinational pharmaceutical companies.
With strength and rich experience in drug R&D, InventisBio has independently developed a series of innovative targeted drugs with patent protection, covering non-small cell lung cancer (NSCLC), breast cancer, colorectal cancer and other solid tumors, as well as metabolic diseases such as hyperuricemia and gout.
InventisBio has business cooperation with well-known pharmaceutical enterprises including Betta Pharma, Pfizer, and Merck (MSD) among many others. Currently, with three core products at the clinical trial stage, five projects at the pre-clinical stage, and three core products entering phase II or phase III clinical registration trials, the company has been foremost among those who have made progress in drug R&D in China and even the world.
According to InventisBio, the company is committed to addressing unmet medical needs, developing innovative drugs with proprietary rights to be marketed worldwide, and consistently providing patients with safer, more effective and more affordable treatments. The successful listing on the STAR Market brings a new opportunity to InventisBio. The company will accelerate its product industrialization and commercialization, while continuing to enrich the product pipeline by advancing more candidate compounds into global clinical trial phases.
Dr. Kan Chen, Partner of Qiming Venture Partners, said, "Equipped with rich experience in innovative drug development, InventisBio's team has profound insights into the industry trends. The company's product pipeline has made progress to date. Many projects have entered the clinical stage or late-clinical stage and demonstrated best-in-class potential. The company's IPO is a new starting point, and we look forward to InventisBio strengthening its industrialization and commercialization capability to better benefit patients with more of its products entering the late-clinical stage and obtaining approval to be marketed."
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.
Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.
Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.
Many of our portfolio companies are today's most influential firms in their respective sectors, including Xiaomi (SEHK:1810), Meituan (SEHK:3690), Bilibili (NASDAQ:BILI, SEHK:9626), Zhihu (NYSE: ZH, SEHK: 2390), Roborock (SHSE:688169), Gan & Lee Pharmaceuticals (SHSE: 603087), Tigermed (SZSE:300347, SEHK:3347), Zai Lab (NASDAQ:ZLAB, SEHK:9688), CanSino Biologics (SEHK:6185, SHSE:688185), Schrödinger (NASDAQ:SDGR), APT Medical (SHSE:688617), New Horizon Health (SEHK:6606), Venus MedTech (SEHK:2500), Sanyou Medical (SHSE:688085), AmoyDx (SZSE:300685), Berry Genomics (SZSE:000710), SinocellTech (SHSE: 688520), Yuanxin Technology, dMed-Clinipace, Belief BioMed, WeRide, Biren Technology and UBTech among many others.