Denovo Biopharma Raises RMB 300 Million in Series B Financing with CEC Capital Group as FA
Denovo Biopharma just recently completed its Series B round of financing raising RMB 300 million with investments from Jiuyo Capital, Sangel Capital, Share Capital, Zheshang Industrial Integration, Yuexiu Capital, Gan Zhan Capital, and Wen Fang Technology. Proceeds from the financing round will be used for stage III clinical testing for diffuse large b-cell lymphoma (DLBCL) treatments and for other R&D projects in the pipeline. Denovo has already started its pre-IPO financing. CEC Capital Group served as Financial Advisor to Denovo Biopharma during this round of financing.
Denovo has recently made a series of significant advances. DB102 (enzastaurin)—a first-line treatment for patients at risk of DLBCL—has completed 70% of its stage III clinical studies in China and the US through the ENGINE trial. DB102 is a treatment for early-stage glioblastoma (GBM) that is undergoing IIb clinical studies at multiple locations around the world. DB102 recently received USFDA approval. DB103 (pomaglumetad methionil) is a drug for schizophrenia that was first developed by Eli Lilly. Clinical trials have already begun and the drug is showing great promise. From the Finnish Orion Corporation, DB105 is a novel treatment for Alzheimer Disease. This drug is a selective, potent and novel receptor antagonist. The drug’s target is the α-2C adrenergic receptor (AR). Like other products in Denovo’s pipeline, DB103 and DB105 are globally recognized as First-in-Class and Denovo has global rights to the drugs.
After the completion of this B-series round of financing, Denovo will launch its pre-IPO financing to support stage IIb clinical study for its GBM treatment. Denovo will also complete a shareholder restructuring at the end of the year and as an innovative company, it will start preparing for a listing on China’s Science and Technology Board.
On behalf of the sole financial advisor to Denovo, CEC Capital Group Partner Irene Hong commented: “Precision medicine is the concept of tailoring treatments to individual patients based on the presence or absence of biomarkers. Denovo Biopharma is leveraging its strong biomarker R&D capabilities to bring a series of First-in-Class drug candidates with immense market potential to advanced clinical trial. This is precision medicine at its essence. We are happy to help Denovo Biopharma complete this round of financing, and we look forward to the company’s next stage of development.”
About Denovo Biopharma
Denovo is a leader of the precision medicine industry that is using a faster and more efficient model for developing novel drugs. Denovo continues developing the novel drug that have been proven—through the clinical trials from international pharmaceutical companies—to be effective for some patients. Using its proprietary biomarker technology, Denovo is identifying biomarkers that correspond to drug efficacy. Using these newly discovered biomarkers as companion diagnostics for screening patients, Denovo will re-run clinical trials on the patients that were most responsive to the original treatment. In this way, Denovo will optimize the drug’s efficacy, safety, and tolerability while increasing the success rate, reducing costs and reducing development time. Denovo Biopharma currently has the global rights to four innovative drugs (DB102, DB103, DB104 and, DB105) that have been developed into the later stages of clinical trials, all of which are globally recognized as First-in-Class products. DB102 (enzastaurin) was originally developed by Lilly to treat diffuse large B-cell lymphoma (DLBCL) and glioblastoma (GBM). DB103 (pomaglumetad) was originally developed by Lilly to treat schizophrenia. DB104 (liafensine) was originally developed by AMRI to treat depression. DB105 was originally developed by the Finnish Orion Group for the treatment of Alzheimer Disease.
About CEC Capital Group
CEC Capital Group is a leading investment bank focused on new areas of growth for the TMT, consumer and health industries in China and abroad. CEC Capital Group has branches in Beijing and Shanghai. Its US affiliate, China eCapital Partners, LLC, has offices in Los Angeles and San Francisco. On the asset management side, CEC Capital Group is currently managing an RMB fund and a US dollar fund. CEC Capital Group has focused on the healthcare industry since 2007 and is one of the leading investment banks covering the healthcare sector in China. The healthcare team consists of professionals with experience working in R&D, investment funds, medical institutions, and large multinational conglomerates in the healthcare industry.
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