China's HLC, Panacea lead $100m funding in biotech startup Inmagene

Inmagene Biopharmaceuticals, a biotech startup with offices in China and the US, has closed $100 million in a Series C round of financing jointly led by health-focused HighLight Capital (HLC) and Panacea Venture, the startup announced in a WeChat post on Tuesday. The new round attracted capital injections from new investors, such as VMS Asset Management, an investment arm of Hong Kong-based financial firm VMS Group; and Triwise Capital, a Chinese private equity (PE) firm that focuses on early-stage biomedicine and TMT investments. Chinese PE company South China Venture Capital (SCVC); Beijing-based KunLun Fund; alongside other returning investors also backed…