We are pleased to announce that VMS has completed its series C investment in Inmagene Biopharmaceuticals (“Inmagene” or the “Company”). Inmagene closed a US$100 million series C financing, led by HighLight Capital, together with an existing investor and VMS’ strategic partner, Panacea Venture. New investors VMS and Triwise participated alongside existing investors such as South China Venture Capital and KunLun Fund. The proceeds will mainly be used for global clinical trials, product in-licensing activities and new drug innovation as well as research and development.

Inmagene is a leading biotech company, focusing on immunology-related therapeutic area. Its highly experienced and diversified team possesses international expertise and solid track record. Their team members had led research and development for over 20 NDAs, obtained market approvals in 28 countries, gained 6 INDs in China and the US. They have also played important roles in the founding of I-Mab (NASDAQ: IMAB, and a VMS-invested company), Zai Lab (NASDAQ: ZLAB) and Apollomics. Inmagene is building a robust pipeline of over 20 drug candidates. IMG-20, Inmagene’s most advanced drug candidate, is about to enter the phase II/III clinical trials for multiple indications in the US, China and Europe.

The pipeline of Inmagene is driven by “three engines”. Firstly, the Company in-licenses the best fitted foreign drugs to the onshore market in China and carries out global multi-center clinical trials with its overseas partners. Secondly, Inmagene has established a global strategic cooperation plan with Hutchmed (NASDAQ:HCM) to further develop 4 drug candidates for immunological diseases and the future global clinical development will be led by the Company. In addition, Inmagene upholds the concept of “Innovation Without Borders” to carry out high-efficiency and low-cost new drug innovations in China. The Company has launched innovative drug projects targeting 12 targets with global IP.

VMS is dedicated to supporting biotech companies like Inmagene in making world-class biopharmaceuticals affordable and accessible to patients through technological and manufacturing innovation globally. We are highly confident that, with the leadership team’s expertise and proven track record, and armed with the ammunition from the latest financing, Inmagene is well positioned to accelerate its growth even further.

If you would like to hear the latest updates on the Firm and the Fund, please feel free to contact our Investor Relations team at IR@VMSIG.COM.