Innoforce Pharmaceuticals Funding, Investors & Competitors

Innoforce Pharmaceuticals has raised $155M across 2 funding rounds, most recently a $59M Series A in December 2021.

Last Innoforce Pharmaceuticals funding round

$59M

Series A · Dec 2021

Cumulative funding Innoforce Pharmaceuticals raised

$155M

across 2 funding rounds

Key investors in Innoforce Pharmaceuticals

  • Quan Capital
  • South China Venture Capital
  • CICC
  • Advantech Capital
  • TriWise Capital
  • Yanchuang Capital
  • China Highrun Capital Limited
  • Euland Venture

Innoforce Pharmaceuticals Overview

About Innoforce Pharmaceuticals

InnoForce Pharmaceuticals is a Shanghai-based contract development and manufacturing organization for biologics. The company provides cell line development, upstream and downstream processing, and aseptic filling for monoclonal antibodies and vaccines. Its cGMP facilities support Phase I-III trials and commercial production for partners in China and Southeast Asia.


Founded

2018

HQ

ChinaHangzhou

Status

Privately held

Customer focus

B2B

Revenue model

Services

Innoforce Pharmaceuticals Funding History

Innoforce Pharmaceuticals has raised a total of $155M across 2 funding rounds.

Innoforce Pharmaceuticals' first fundraising round was a $96M Series A in March 2021. The most recent completed round was a $59M Series A in December 2021.

Innoforce Pharmaceuticals funding rounds

Innoforce Pharmaceuticals funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2021Series ASouth China Venture Capital (lead); Yanchuang Capital (lead); China Highrun Capital Limited; Advantech Capital; Quan Capital; S&G CAPITAL; CICC; Euland Venture; TriWise Capital$59M-
Mar 2021Series ASouth China Venture Capital (lead); Quan Capital$96MInnoforce Pharmaceuticals, a China-based biopharmaceutical company founded in 2018, specializes in partnering with pharmaceutical firms for product development, operations management, and commercialization of drugs in China, the US, and Europe. It operates a biotech innovation park in Hangzhou's Hangzhou Bay Biotech Valley, offering global GMP biomanufacturing capabilities as a CDMO for plasmid DNA, viral vectors, cell and gene therapy products, and monoclonal antibodies through partnerships like Thermo Fisher. The company completed its RMB 625 million ($96 million) Series A financing in March 2021, co-led by South China Venture Capital (SCVC) and Peking University-backed Yanchuang Capital, with participation from existing investor Quan Capital Management and others. This followed a RMB 170 million ($24 million) pre-Series A round in June 2020 led by Quan Capital. A second tranche announced later brought the total Series A to 1 billion CNY ($156.6 million), with additional investors including Advantech Capital, Triwise Capital, and others. Proceeds from the Series A supported construction of manufacturing facilities at its Hangzhou campus, including cell and gene therapy production, monoclonal antibody bioprocessing, and an RNA manufacturing platform. The first phase of campus construction was slated for completion by end-2021, with staged GMP operations starting in 2022; process development labs were set to open in May 2021. Innoforce aims to build an ecosystem for innovative product development companies, providing end-to-end support.

Who has invested in Innoforce Pharmaceuticals?

9 investors have backed Innoforce Pharmaceuticals across its funding rounds, including Quan Capital, South China Venture Capital, CICC, Advantech Capital, TriWise Capital and Yanchuang Capital.

Lead investors include South China Venture Capital and Yanchuang Capital.


Innoforce Pharmaceuticals Investors

Investors in Innoforce Pharmaceuticals by funding rounds participated
InvestorHQRoundsRoleFirst check
South China Venture CapitalChinaShenzhen2LeadMar 2021
Quan CapitalChinaShanghai2ParticipantMar 2021
China Highrun Capital LimitedChinaShenzhen1ParticipantDec 2021
Advantech CapitalHong KongHong Kong1ParticipantDec 2021
S&G CAPITALFranceParis1ParticipantDec 2021
CICCChinaBeijing1ParticipantDec 2021
Euland Venture--1ParticipantDec 2021

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Innoforce Pharmaceuticals Competitors

Innoforce Pharmaceuticals competitors include listed companies like Lonza Group and Eli Lilly, and private ones like BioRay Pharmaceuticals, Belief BioMed, Letu and Sonoma Biotherapeutics.

Public and private companies comparable to Innoforce Pharmaceuticals
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Lonza GroupSwitzerlandSwitzerlandPublicly listed$7.9B$2.5B$46B5.9x
BioRay PharmaceuticalsChinaShanghaiPrivate$131M-$1.9B14.5x
Belief BioMedChinaShanghaiPrivate--$1.3B-
LetuChinaShenzhenPrivate--$1.1B-
Sonoma BiotherapeuticsUnited StatesSan Francisco, CAPrivate--$732M-
Eli LillyUnited StatesUnited StatesPublicly listed$65B$28B$1.0T13.1x

Innoforce Pharmaceuticals Public Comps

Innoforce Pharmaceuticals is still privately-owned, but its public comps include Eli Lilly, Johnson & Johnson, AbbVie, Merck, Roche, Novartis, AstraZeneca, Amgen, Novo Nordisk and Gilead Sciences.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eli Lilly$65B$28B16.5x13.1x38.7x27.0x
Johnson & Johnson$94B$40B7.2x6.8x17.0x18.3x
AbbVie$61B$17B8.7x8.1x30.6x17.6x
Merck$65B$28B6.3x6.2x14.7x21.0x
Roche$77B$26B5.0x4.9x14.6x12.4x
Novartis$57B$22B5.5x5.5x14.2x13.3x
AstraZeneca$59B$19B4.8x4.5x14.6x12.7x
Amgen$37B$17B6.8x6.5x14.8x14.4x

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Common questions about Innoforce Pharmaceuticals

When was Innoforce Pharmaceuticals founded?Innoforce Pharmaceuticals was founded in 2018.
Where is Innoforce Pharmaceuticals headquartered?Innoforce Pharmaceuticals is headquartered in Hangzhou, China.
Is Innoforce Pharmaceuticals publicly listed?No, Innoforce Pharmaceuticals is a private, VC-backed company.
How much funding has Innoforce Pharmaceuticals raised?Innoforce Pharmaceuticals has raised $155M across 2 funding rounds.
What was Innoforce Pharmaceuticals' last funding round?Innoforce Pharmaceuticals' last funding round was a $59M Series A in December 2021, led by South China Venture Capital and Yanchuang Capital.
Who are Innoforce Pharmaceuticals' investors?Innoforce Pharmaceuticals' investors include South China Venture Capital, Quan Capital, China Highrun Capital Limited, Advantech Capital, S&G CAPITAL, CICC, Euland Venture, Yanchuang Capital and TriWise Capital.
Which companies are comparable to Innoforce Pharmaceuticals?Companies comparable to Innoforce Pharmaceuticals include Lonza Group, BioRay Pharmaceuticals, Belief BioMed, Letu, Sonoma Biotherapeutics and Eli Lilly.

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