IONOVA LIFE SCIENCE CO., LTD., China -- October 15, 2019 – IONOVA, a biotechnology company located at the Guangdong-Hong Kong-Macao Greater Bay Area and focusing on developing novel medicines for cancer treatment, today announced it has completed $17 million Series A financing. The financing was led by Lilly Asia Ventures, and included participation from existing investor DYEE CAPITAL.
IONOVA was founded by a group of pharmaceutical industry veterans who bring together a wealth of drug discovery, development and business development experiences. Dr. Yongkui Sun, Founder, Chairman of the Board and CEO of IONOVA, is a member of the US National Academy of Engineering and has had an illustrious career at Merck & Co., Inc. for over 20 years in R&D and business development. The management team also includes Dr. Kan Ho, Vice President of Research and External Innovation, previously with Eli Lilly, and other senior executives who served leadership roles in multi-national pharmaceutical companies such as Sanofi, and in domestic conglomerates such as Eagle Holdings. IONOVA’s mission is to translate basic biomedical research discoveries into globally competitive novel drug candidates, progressing them through clinical and regulatory approval.
"The financing will enable IONOVA to move our pipeline from pre-clinical to clinical stage, and strengthen our portfolio going forward” said Dr. Yongkui Sun. “We are excited to complete this round of financing led by LILLY ASIA VENTURES, a leading biomedical venture firm. We are also delighted to have the continued support from our early investor DYEE CAPITAL. Together we aim to bring IONOVA innovation from the Guangdong-Hong Kong-Macao Greater Bay Area to the global marketplace to benefit patients worldwide."
"We are deeply impressed by the IONOVA management team led by Dr. Yongkui Sun, and thrilled to lead the Series A financing,” said Stephen Lin, Partner of LILLY ASIA VENTURES. “The rise of the Great Bay Area provides unprecedented opportunities to IONOVA. We are in full support for the company to achieve its success."
For more information about IONOVA, please visit www.ionovabio.com.
About LILLY ASIA VENTURES
Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm founded in 2008, with offices in Shanghai, Hong Kong, and Palo Alto. The vision is to become the trusted partner for exceptional entrepreneurs seeking smart capital and to build great companies developing breakthrough products that treat diseases and improve human health.
About DYEE CAPITAL
Dyee Capital covers healthcare and sectors in modern service industries with high growth potentials. Dyee Capital’s team has years of experiences in capital investment, investment banking and other related industries. The team also has a history of successful entrepreneurial and managerial experiences. The mission is to assist talented entrepreneurs to create industry leaders. DYEE is proud shareholders of Zelgen, Allist, Borns, Ionova, Kyee and Innovision.