China-based drug developer Innovent Biologics raised $260m in a series D round that featured a host of China-based corporate investors: Legend Capital, the investment arm of conglomerate Legend Holdings as well as insurance providers China Life Investment Holding, Taikang Insurance and Ping An Insurance. The round, led by an unnamed fund of China government-owned State Development and Investment Corporation (SDIC), also included Temasek, the investment arm of the government of Singapore and Hillhouse Capital.
