With $50M angel round, WuXi vet Li sets sail with own venture

After eight years of developing compounds at WuXi Biologics for the company’s clients, Jing Li now has $50 million in angel money to create his own pipeline of multi-specifics and ADCs at VelaVigo.

Founded in October 2021, VelaVigo— the name is a play on the Latin terms for sailing and navigation — plans to discover, develop and commercialize bi- and tri-specific antibodies and antibody-drug conjugates with a focus on innovative targets for cancer, immunology and CNS. The company aims to develop a pipeline of two to three dozen assets, according to a source familiar with the deal who requested anonymity. ...