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Innogen Pharma Closes $120 Million Financing for GLP-1 Diabetes Treatment

publication date: Dec 28, 2021

Shanghai Innogen Pharma has closed a $120 million Series A round to support its Phase III trial of supaglutide, a GLP-1 agonist for diabetes. It will also advance several other first-in-class programs and build a clinical-trial manufacturing facility. Earlier this year, Innogen raised $19 million in a Pre-A financing. Established in 2015, Innogen focuses on developing drugs for diabetes, obesity and diabetic complications. The financing was led by Youshan Capital and China Growth Capital. Other investors include CICC Qide Fund, V Star Capital and China Everbright Limited. More details....

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