Recently, Shengyuan Medicine Guangzhou Co., Ltd. (hereinafter referred to as Shengyuan Medicine) announced the completion of a multi-million yuan A+ round of financing, with the investment from the Biological Island Fund managed by Guojv Venture Capital Management. The funds will be mainly used for the clinical development of the new dry eye drug SY-201 and the commercial development of innovative products for rapid detection of tear biomarkers.
Shengyuan Medicine is an ophthalmic innovative pharmaceutical R&D company, focusing on the development of diagnostic products and therapeutic drugs for ophthalmology. The company concentrates on eye health and visual quality, promoting development through innovation. It has established a development pattern involving the R&D, production, and commercialization of precision diagnostic and treatment products for ophthalmic diseases, based on disease mechanism and biomarker research. The company focuses on developing effective prevention and treatment drugs for globally prevalent eye conditions with large market scales and high clinical demand, such as dry eye, juvenile myopia, and presbyopia.
Dr. Huang Jingfeng, founder of Shengyuan Medicine, has over two decades of experience in innovative drug research and clinical development within leading international pharmaceutical companies. With a deep focus on the molecular mechanisms of immune and ophthalmic diseases, Dr. Huang has accumulated extensive expertise in the field of ophthalmic Biomarker research, authoring more than 30 research papers published in top-tier academic journals such as Science and Ophthalmology. The company has established a big data platform for ophthalmic Biomarker research, providing a critical foundation for the discovery and validation of disease molecular mechanisms and novel drug targets. This platform continuously supports the original innovation of new drugs and precision diagnostic products for ophthalmic Biomarkers, while enhancing the success rate of new drug clinical development, establishing a model for sustainable innovation.
Yang Xi, Chairman of Guojv Venture Capital and General Manager of Guangzhou International Bio Island Co., Ltd., stated: Since Shengyuan Medicine was established on Bio Island, we have been closely following the team's vision and project progress, and have witnessed their persistence and breakthroughs in international innovation within the ophthalmology field. Guojv has always focused on the ophthalmology sector. By 2025, the market size for dry eye drugs in China is expected to reach $7.2 billion, growing to $20.2 billion by 2030, showing an accelerating growth trend. Shengyuan Medicine’s SY-201, a dry eye drug filed for approval in both China and the U.S., has completed Phase II clinical trials in the United States. Recently, Bausch + Lomb's acquisition of Novartis’ dry eye drug Xiidra for $1.75 billion has further increased our expectations for SY-201’s global value.