Zensun Sci & Tech (871392.OC), a leading innovative drug developer in China, announced an impressive RMB 507 million financing round yesterday, led by SDIC Venture Capital Management Co., Ltd., with a host of new backers including Tianfeng Tianrui Investment Co., Ltd., Orient Securities Company Limited, China Venture Capital Co., Ltd. and Everbright Ivy Capital Investment Company. This round of funding will be mainly used for their Neucardin™ project, additional pipeline research, and the construction of a new laboratory building and advancing company operations.
CEC Capital served as the exclusive financial advisor to Zensun Sci & Tech.
Zensun was listed in the New OTC Market on May, 2017. The company has developed two major novel drug R&D platforms based on two core technologies: cadiomyocyte therapy and energy metabolism therapy. It has submitted 186 global patent applications and obtained 73 patent authorizations across the world.
Based on its cadiomyocyte therapy platform, Zensun developed its core product for the treatment of Chronic heart failure. Neucardin™, which is a globally pioneering FIC novel drug, enjoys international patent rights. Once completed, it will be the first breakthrough in this field after two decades. Zensun has also developed Neucardin™’s new indications for the treatment of diastolic heart failure and other pioneering FIC novel drugs such as rAAV9/cMLCK, a gene therapy drug for the treatment of severe heart failure. In addition, Zensun developed a series of novel chemical drugs for the treatment of senile diseases such as functional constipation and Alzheimer disease with its energy metabolism therapy platform. The aforementioned products are predicted to enter clinical trials gradually from 2018.
“We will invest with RMB 250 million from our National Fund for Major Technology Project Transfer and Commercialization”, said Tang Jianping, biotechnology investment director of SDIC, and Dr. Hu Zhiyuan, CIO of SDIC. “This round of investment will speed up the marketing of Zensun’s potential blockbuster drug, Neucardin™, in the Chinese market and other major markets. Neucardin™ is one of the rare FIC drugs established in China and will enter international novel drug markets. SDIC’s investment in Zensun corresponds to our mission, supporting innovative Chinese drug developer break into developed pharmaceutical market. Behind this mission, SDIC has also invested in many other companies in the field of critical illness like cardiovascular, cancer and diabetes. We’d like to contribute to the innovative development of the Chinese pharmaceutical industry, while meeting emerging drug needs and reducing social healthcare costs.”
“More and more Chinese drug enterprises enter global market in recent years”, said Ms. Hong Ailin, Investment Partner and Director of CEC Capital Healthcare Group of. “There is no doubt that Zensun is a pioneer. As a rare drug developing company with complete R&D line including independent drug target and chemical compound candidate, Zensun will utilize this round of funding to start their global Neucardin™ Phase III clinical trial as soon as possible, and we are honored to contribute our part in this significant step for Chinese novel drug companies on the world stage.”