Shanghai/Boston, Dec. 31, 2024---VelaVigo Cayman Limited (hereinafter referred to as “VelaVigo” or the “Company”), a biotech company focusing on the discovery and development of multi-specific antibodies and antibody-drug conjugate (ADC), today announced it had completed the pre-A round of financing of nearly $50 million. Led by Panacea Venture and Shanghai Healthcare Capital, with further support of existing shareholder HighLight Capital (HLC), this round of financing was jointly participated by a number of well-known investment institutions including Everjoy Fortune, Zoo Capital, Delian Capital and Legend Star.
This round of financing will be used to advance VelaVigo’s innovative drug pipeline and accelerate core R&D projects into clinical development, focusing on the development of differentiated innovative treatment plans in fields such as oncology and autoimmune diseases.
Dr. Jing Li, Founder & CEO of VelaVigo, said, “We are honored to receive recognition and support from both new and existing investors. Through three years of unremitting effort by our team, several project pipelines have been progressed rapidly, and remarkable achievements have been made in business partnerships. These positive developments show the company’s strong capabilities in execution, innovation, and business expansion. This financing will accelerate our core projects into clinical research and, through independent R&D and external cooperation, further facilitate the development of differentiated innovative treatment plans to create more commercial value. Meanwhile, we will continue to attract and develop outstanding talent for the ongoing growth and development of the company.”