On August 6, 2020 Lepu Biotech of Shanghai reported that it closed a $186 million Series B round to support its portfolio of affordable cancer immunotherapies (Press release, Lepu Biotech, AUG 6, 2020, View Source [SID1234563236]). Lepu Bio, a subsidiary of China medical device company Lepu Medical, was founded in 2018. It has built a pipeline of 12 candidates including seven that have started clinical trials. Lepu’s clinical-stage products include PD-1, PD-L1, oncolytic virus and multiple antibody drug conjugate candidates. The B Round was led by the investment arms of Ping An Insurance and Sunshine Insurance.

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