Chinese Pharma Company Xuanzhu Biopharmaceutical Takes Home Over US$100M in Series A

Xuanzhu Biopharmaceutical welcomes Chinese government’s State Development and Investment Corporation as an investor

Xuanzhu Biopharmaceutical, a subsidiary of China-based pharmaceutical company Sihuan Pharmaceutical Holdings, has raised RMB800 million (approximately US$115.6 million) in its Series A round of financing, according to a statement by the company today.

The funding was raised from Chinese state-owned investment company State Development and Investment Corporation (SDIC), a new investor in Xuanzhu Biopharmaceutical with a stake of 18.6%, the statement said.

“The joining of the SDIC is an affirmation of Xuanzhu Biopharmaceutical’s current achievements. We will continue to bring world-leading, unique and innovative therapeutic drugs to more clinical patients in the future,” President, R&D, at Xuanzhu Biopharmaceutical, said Dr Li Jiakui said in the statement.

“With the help of Sihuan Pharmaceutical’s extensive commercialization experience in China, as well as our outstanding R&D capabilities and localized development capabilities, we believe that Xuanzhu Biopharmaceutical can gain a competitive advantage in the ever-evolving clinical and regulatory environment in China,” he added.

The deal involves an equity incentive plan for Xuanzhu Biopharmaceutical’s management in building a drug R&D and production platform in China, the statement also said. Xuanzhu Biopharmaceutical and SDIC are also expected to collaborate in the future in this field.

Xuanzhu Biopharmaceutical is a drug research and development platform founded in 2002. It was acquired by Sihuan Pharmaceutical in 2012, and eventually became an independent spin-off of the company with a capital of RMB1.15 billion in 2018.

Apart from China, the company has a presence in the U.S. and Hong Kong, the statement noted.

“Xuanzhu Biopharmaceutical is deploying research and development of market-leading innovative drug, and is rapidly promoting clinical research and development and marketing, thus building a strong platform,” SDIC said in the statement.

“We are very happy to support Xuanzhu Biopharmaceutical’s highly efficient team at this exciting stage. They are using their expertise and capabilities to expand treatment options and benefit Chinese patients,” the company added.

Xuanzhu Biopharmaceutical has several products in its pipeline, some in the late clinical stage, covering oncology, diabetes, metabolic diseases, digestive system, male reproduction, and anti-infection.

Of these, its products Birociclib, a CDK4/6 inhibitor for advanced breast cancer, and Janagliflozin, an SGLT2 inhibitor for the treatment of diabetes, are the most promising, the statement noted.

“We are very pleased to see that SDIC has full confidence in Xuanzhu Biopharmaceutical’s ability in developing high-value innovative drugs,” Chief Commercial Officer of Xuanzhu Biopharmaceutical, Dr Leslie Boyd said in the statement.

“The new investment will make Xuanzhu capable of maintaining a good cooperative relationship with those partners who share the same values with us for a long time, and always use innovative therapies to continuously improve patients’ lives and medical standards,” Boyd added.

As of 2017, China was the world’s second largest pharmaceutical market, and also the biggest emerging market with its value expected to reach $175 billion by 2022.

Header image by Anshu A on Unsplash

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

Top Must-Follow Productivity Influencers in 2023

Top Must-Follow Productivity Influencers in 2023

Productivity is a key aspect of success in today’s fast-paced world. Being productive enables individuals to balance their work and personal lives effectively while accomplishing their goals efficiently. To help you stay on track and reach your full potential, we’ve identified top influential productivity experts who provide valuable insights to maximize your efficiency in 2023.

What Can Drones Be Used For, and Do They Have a Future?

What Can Drones Be Used For, and Do They Have a Future?

In January 2023, Australian soldiers used drones to search for a missing woman. The drones helped them reach areas that might have been too challenging for a human to enter. For the past few years, the drone economy has been booming. Global investments in the industry amount to US$1.15 billion, with China leading the market.

2022 FIFA World Cup

The Most Controversial VAR Decisions at the 2022 FIFA World Cup

The footballing world has welcomed many new technological developments in recent times. Its goal is to make decision-making more accurate and provide a better experience for players and fans alike. These technologies include the video assistant referee (VAR), semi-automated offside technology (SAOT) and sensor-equipped footballs, all used extensively during the 2022 FIFA World Cup in Qatar.

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Self-funding Your Startup? Follow These Expert Tips from Proven Entrepreneurs

Starting a new business can be an exciting and challenging endeavor, with securing funding being one of the biggest obstacles. Traditional funding options, such as venture capital and angel investing, can be time-consuming, especially for new and untested businesses. In such cases, self-funding, or “bootstrapping”, might be a viable option.

Navigating Ghost Job Postings: How to Avoid Them

Navigating Ghost Job Postings: How to Avoid Them

Job searching can be a daunting task, especially with the risk of encountering scams or fraudulent job postings. Ghost job postings, which refer to open job positions that are not actively being filled, are a common issue that jobseekers should be aware of. According to a survey by New York-based financial consultancy Clarify Capital.

Can AI Help You Flirt Better

Can AI Help You Flirt Better?

“Excuse me, but I think you dropped something: my jaw.” This is the pick-up line the famous artificial intelligence (AI) chatbot ChatGPT dished out when we asked for some viable options. Not the most original, sure, but not bad for a trained algorithm.