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Ennovabio Closes $14 Million Series A Round for Novel Drug Development

publication date: Nov 29, 2019

Shanghai Ennovabio Pharma, a novel drug startup, closed a $14 Series A financing led by Matrix Partners China and joined by existing shareholder Highlight Capital. Established in 2016 in Shanghai's Zhangjiang Park, Ennovabio uses bioinformatics to develop Class 1.1 novel drugs. The company expects to file INDs in China and the US next year for its lead candidate, a treatment for diabetic eye disease. Ennovabio, which plans to combine internal research with in-licensed candidates to build its pipeline, has six novel drugs in preclinical development. More details....

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