Suzhou's Innovent Plans Capital Raise Followed by $200M IPO

January 15, 2018 -- Innovent Biologics of Suzhou is planning a pre-IPO round and then an IPO for $200 million in late 2018. The venue will be either a US or Hong Kong exchange, according to Bloomberg. Innovent is developing an ambitious portfolio of biosimilar and novel biotech cancer drugs.  One year ago, the company completed a $260 million D round. In 2015, Innovent struck an over-$1 billion deal with Lilly, which includes three PD-1 candidates and up to six other biologic drugs. Innovent is expected to seek a valuation of over $1 billion in its IPO.