Innovent Biologics, Inc. is investing $25 million to continue the expansion of its pipeline and manufacturing capabilities in Suzhou, China. The financing is provided by Lilly Asia Ventures, part of Eli Lilly, and from Fidelity Biosciences and Fidelity Growth Partners Asia.
Innovent currently has a GMP pilot plant for the production of clinical trial material and is building a new campus in Suzhou. It will include laboratories and offices, and will house a commercial manufacturing plant with multiple 12,000 L bioreactors and a pilot plant, with two 1000L bioreactors, for production of clinical materials. The 90,000m2 biopharmaceutical facility will be designed to comply with international requirements for cGMP as defined by the EMA and the FDA, as well as meet China SFDA cGMP regulations.
"We are fortunate to have world's premier investors believing in our team and business. Biologics are going to be a huge category in China just as they are worldwide, which presents a unique, once in a lifetime opportunity. Innovent is positioned to be a leading biologics company in China,” said Michael Yu, Ph.D., co-founder, president and chief executive officer of Innovent Biologics.