August 17, 2020 (GMT+8) – Dizal Pharmaceuticals announced the closing of US$100 million new round of financing, led by Lilly Asia Ventures, with participation from Sequoia Capital, Trinity and Wuxi NewForce Fund.
Dizal Pharmaceuticals is establishing its headquarters for China in Wuxi National High-tech District, planning to invest in R&D, operations, production, sales and distribution centers in stages, and to build a distinctive, innovative drug development ecosystem to attract the R&D community, investors, and partners.
Dizal Pharmaceuticals was established in October 2017 as a joint venture between AstraZeneca and the Chinese Future Industry Investment Fund (FIIF). Its predecessor was AstraZeneca’s Innovation Center China (ICC). Dizal's mission is to discover, develop and commercialize potential new medicines to help meet unmet needs globally, and to bring innovative new medicines to patients in China faster.