HighLight Capital and Panacea Venture led a $100m Series C funding round in Inmagene Biopharmaceuticals.

HighLight Capital, an investment firm, and Panacea Venture, a science-focused venture capital firm, led a $100m Series C funding round in Inmagene Biopharmaceuticals, a biotech startup. Additional investors include VMS Asset Management, Triwise Capital, TMT investments, South China Venture Capital and KunLun Capital. Inmagene and its biotech counterparts have continued to present strong fundraising capabilities in China over the recent few years, amid a series of local public stock market reforms that have enabled investors to exit from such pre-profit, capital-intensive portfolios.