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LianBio Raises $310 Million to Bring Novel Medications to China

publication date: Oct 29, 2020
 | 
author/source: Richard Daverman, PhD

LianBio, a Princeton-Shanghai company, raised an impressive $310 million in an oversubscribed crossover financing from a large group of US and China investors. The funding follows LianBio's founding and initial financing provided by Perceptive Advisors. LianBio is focused on bringing novel drugs to China and major Asian markets. Perceptive formed the company to become involved in China's vibrant biopharma ecosystem. In its 21 years of operation, Perceptive has made investments in 150 public and 80 private biopharmas. So far, LianBio's in-licensed assets have come from Perceptive portfolio companies.

The financing was co-led by U.S. investors RA Capital and Venrock Healthcare Capital Partners and Chinese investor CMG-SDIC Capital.

LianBio has access to a broad selection of candidates from Perceptive's portfolio companies. However, in an interview with ChinaBio® Today (see story), LianBio executives said, "Our relationship with Perceptive only allows us to get in the door, it doesn't get us the deal. The team on the ground is what will win us the deals. We have to assure companies that their assets will be in good hands in China."

When LianBio broke out of stealth mode in August, it announced two initial deals. The company acquired China rights to two BridgeBio (NSDQ: BBIO) oncology assets in a $531.5 million agreement, and it in-licensed China/Asia rights to a cardiovascular drug, mavacamten, discovered by MyoKardia (NSDQ: MYOK) in a $187.5 million deal.

LianBio is led by an experienced executive team with deep regional experience, including Bing Li, CEO and Debra Yu, President and CBO.

LianBio's new financing was co-led by US investors RA Capital and Venrock Healthcare Capital Partners and China investor CMG-SDIC Capital. Other participants in the round include funds and accounts managed by BlackRock, Casdin Capital, Farallon, Logos Capital, Perceptive Advisors, Pfizer, Sphera Healthcare, funds and accounts advised by T. Rowe Price Associates, Tybourne Capital Management, Vida Ventures, Viking Global Investors and Wellington Management.

“We are excited to partner with this world class group of investors who share our vision of accelerating broad access to transformative medicines for patients in China and other major Asian markets. Building on the success and momentum of the Company’s recent launch, this financing provides additional support for LianBio’s efforts to contribute to China’s dynamic life sciences landscape by addressing significant unmet medical needs in the region,” said Konstantin Poukalov, Managing Director, Perceptive Advisors and Executive Chairman of LianBio.

LianBio said the oversubscribed funding from well-known investors validates its global innovation mining platform. The company plans to build a pipeline that provides patients with transformative mechanisms and precision-based therapeutics.

See our other articles on LianBio.

Disclosure: none.

 

 

 


 

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