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2022-03-28
INNORNA raises USD 120 million in Series B funding

Shenzhen, March 28, 2022 - Shenzhen INNORNA Biotechnology Co., Ltd. (hereinafter referred to as “INNORNA”) officially announced that it has raised USD 120 million in Series B funding. CDH Investment and HHF Capital were the lead-investors and E Fund Capital and Blue Ocean Capital Group were co-investors. Current shareholders CPE and Fangyuan Capital continued additional investment.

After the completion of this round of funding, INNORNA will continue to expand the technology boundaries of mRNA drug R&D based on its technology platform and open up more new R&D pipelines.

Dr. Liu Dan, Senior Partner of CDH VGC which leads the Series B funding, said, “mRNA technology has made tremendous progress during the pandemic, showing great potential for application in vaccines and other areas. We have been looking for a new LNP delivery platform similar to or even beyond the existing overseas products. China’s biotechnology innovation is at a transition stage. We prefer to support such steady and innovative platform-based companies like INNORNA and we expect to see mRNA vaccines and drugs independently developed in China by INNORNA soon based on a new generation of LNP products.”

“Rather than focusing on one specific product, we value INNORNA as a platform company, as it can continuously develop various new mRNA or nucleic acid drugs,” said Dr. Zhang Junjie, the founding partner of Huayi Investment leading Series B funding. In his view, very few teams in the world can truly master key technologies such as LNP delivery and mRNA synthesis. Led by Dr. Li Linxian, R&D team of INNORNA have extensive experience in R&D and own leading underlying technology, both of which ensure the growth of INNORNA.

 

About INNORNA

Established in November 2019, INNORNA focuses on the research and development of mRNA and delivery vectors technologies. It has industry-leading mRNA and nano-delivery technology platform with independent intellectual property rights. Since its establishment, INNORNA has raised more than RMB 1 billion through equity financing.

 

About CDH

Established in 2002, CDH Investments is one of the leading alternative investment fund managers focused on China today with over US$26 billion of assets under management. From its roots in private equity, CDH has expanded to become a diversified alternative asset management platform covering: Private Equity, Real Assets, Venture and Growth Capital, Mezzanine&Credit, Public Equities and Wealth Management. CDH has invested in more than 300 companies and has helped more than 100 companies successfully list on international and China’s domestic stock exchanges. Many of them are sector leaders, and, collectively, they play an important role in China’s economy.


About HHF

Established in October 2016, HHF is a professional investment institution committed to investing in and cultivating the growth of platform companies in the healthcare industry. HHF focuses on three sectors with structural investment opportunities: medical technology, biotech, and consumer healthcare. The Fund excels at providing advanced solutions to fast-growing start-ups or mature leading companies with core technologies. It also actively discovers strategic investment opportunities in the industry and invests in emerging companies with great potential and fast growth. By focusing on the long-term development as well as providing precise value-added services in the post-investment phase, HHF aims to help invested portfolios grow to be industry leaders and equip them with international vision.

Currently, HHF manages several RMB and US dollar funds with AUM over RMB 8 billion. It has invested in more than 20 leading companies in the healthcare segment, including Endovastec (688016.SH), MicroPort CardioFlow (02160.HK), MicroPort (00853.HK), Bloomage Biotech (688363.SH), Chemclin (688468.SH), Nanomicro Technology (688690.SH), MicroPort EP, OPM Bioscience, Bluepha, Hongene Biotech, etc.