China's Libo life sciences company raises nearly RMB 100m in Series A
China's Libo life sciences company closed a Series A round of nearly RMB 100 million, with Loyal Valley, Sinovation and CICC Capital participating.
China's Libo life sciences company closed a Series A funding round of nearly RMB 100 million, according to a report published by PEdaily.
Loyal Valley Capital, Sinovation Ventures, the private equity arm of CICC Capital and YuanBio Venture Capital all participated in the round, according to the report.
The report identified the round as Series A at nearly RMB 100 million and named the four investors participating in it.
The source said the proceeds will accelerate the development of small-molecule drugs targeting RNA using artificial intelligence, and the building of a target discovery platform, without further details on the round's structure.
What do these terms mean?
Series A: An early funding round after seed funding, usually allocated to product development and expansion.
Life sciences: A sector covering research and development in drugs, treatments and technologies related to human health.
Private equity fund: A fund that invests in unlisted companies, often with large stakes and for a long period.
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