Chuangyebang was informed that recently, Sihuan Pharmaceutical Holdings Group Co., Ltd. (the “Company” or “Sihuan Pharmaceutical”, together with its subsidiaries, collectively referred to as the “Group”; HKEx stock code: 0460) announced that it is a non-wholly owned subsidiary of the Group. Jilin Huisheng Bio-Pharmaceutical Co., Ltd. (“Huisheng Bio”) has successfully completed the investment of Jiangsu China Life Zouquan Equity Investment Center (Limited Partnership) (“China Life Great Health Fund” or “China Life Equity”), Tianjin Yuanyiyong Xuan Enterprise Management Center (Limited Partnership) (“Tianjin Yuanyi”), Tianjin Binhai Yuanyi Jimao Equity Investment Partnership (Limited Partnership) (“Tianjin Yuanyi Jimao”) and Jiaxing Tonghe Ginkgo Equity Investment Partnership (Limited Partnership) (“Ginkgo Capital”) (collectively, the “Four Investors”) to raise the first round of financing (the “Capital Increase”) as a Series A investor in the form of a capital increase. WinX Capital acted as the exclusive financial advisor to Huisheng Biotech and will continue to be responsible for the follow-up financing.
According to this capital increase agreement, four investors subscribe for 33.333 million newly issued shares of Huisheng Bio at a consideration of RMB 500 million (equivalent to HK$618 million). After this capital increase, the registered capital of Huisheng Bio has increased to RMB 333.333 million, and the overall post-investment valuation is RMB 5 billion. Huisheng Bio’s shareholding ratio is 10%.
In order to comprehensively expand the 100 billion track of diabetes, the company established Huisheng Bio, a biopharmaceutical company focusing on diabetes and complications in 2014. After 7 years of development, the investment has exceeded RMB 1.5 billion. Today, Huisheng Bio has more than 200 people, rich experience in diabetes drug research and development, and a world-class professional R&D team. Huisheng Bio has successfully developed nearly 40 rich and comprehensive product pipelines at different stages. It has achieved full coverage, and the product line covers a full range of second-, third-, and fourth-generation insulin and analog product pipelines (covering basic, premixed and quick-acting products), innovative drugs with the latest mechanism SGLT-2, GLP-1, DPP -4 and other products as well as other hypoglycemic drugs and complication drugs of various mechanisms.
Dr. Che Fengsheng, Chairman and Executive Director of Sihuan Pharmaceutical Holdings Group, said: “Huisheng Bio is currently the only biopharmaceutical company in China that has achieved full product coverage in the field of diabetes and complications. The successful completion of the Series A financing not only reflects the various investors The recognition of Huisheng Bio’s R&D strength and industrialization capability also reflects its confidence and expectation in the value creation of the company’s full product pipeline in the field of diabetes and complications and its broad market prospects in the future. It is mainly used to meet the normal operation needs of Huisheng Bio, including the clinical advancement of products under development, the purchase of production equipment, and the replenishment of operating liquidity, etc. This round of financing is Series A financing from four investors. Thanks for their strong support, This will enable Huisheng Biotechnology to continue its efforts in the field of biomedicine to benefit more patients with diabetes and complications.”
Jiang Li, Managing Director of China Life Equity Company, said: “In recent years, the prevalence of diabetes has continued to rise, and it has become a major global challenge for individuals, families and society. We are very honored to participate in Huisheng Bio’s first round of financing. The full product deployment of Sheng Bio in the field of diabetes drug research and development and the treatment of complications is fully optimistic about the future value of the company. The equity of China Life will continue to help Hui Sheng Bio to grow into a biomedical leader with comprehensive solutions for diabetes and complications, benefiting global diseases suffer.”
Dr. Zou Guowen, founder of Kaicheng Capital, said: “Weisheng Bio has a leading and heavy R&D pipeline, a full-coverage multi-level product layout, strong and comprehensive strategic resources, and an experienced and strong executive management team. It is a benchmark enterprise in the domestic diabetes field. We believe that Huisheng will continue to bring good news to diabetic patients in the large diabetes market of 100 billion. Here, I would like to thank the leaders of Sihuan Group and Huisheng Biology for their trust. This is the second successful cooperation between Kaicheng Capital and Sihuan Group after the successful service of the oncology innovative drug sector [Xuanzhu Pharmaceutical] under Sihuan Group’s B round of 6+ billion financing. Let’s go together now, and the future will be together!”
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