Sino Biopharmaceutical (HKG:1177) invested 142 million yuan in LaNova Medicines' Series C1 financing round, securing a 4.91% stake in the company.
The funding round, which raised 300 million yuan, will support LaNova's development of new medical treatments and innovative platforms in oncology.
The parties also established cooperation in mainland China, focusing on LaNova's LM-108, a drug undergoing clinical trials to treat various cancers.
In addition, Sino Biopharm has the option to enter into other partnerships with LaNova in the future for various potential bispecific antibodies and antibody-drug conjugates.
"Through the equity investment and strategic cooperation, the Group's pipeline layout in the field of oncology will be further enriched and optimized," Sino Biopharm said in a Wednesday statement.
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