On November, 29 2019 Shanghai Ennovabio Pharma, a novel drug startup, closed a $14 Series A financing led by Matrix Partners China and joined by existing shareholder Highlight Capital (Press release, EnnovaBio, NOV 29, 2019, View Source [SID1234551779]). Established in 2016 in Shanghai’s Zhangjiang Park, Ennovabio uses bioinformatics to develop Class 1.1 novel drugs. The company expects to file INDs in China and the US next year for its lead candidate, a treatment for diabetic eye disease. Ennovabio, which plans to combine internal research with in-licensed candidates to build its pipeline, has six novel drugs in preclinical development.

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