Affection Animal Pharmaceuticals Secures Hundreds of Millions in Series C Funding to Advance Leading Pet Vaccine Pipeline

Today,Suzhou Aiyi Animal Medicine Co., Ltd. (Affection Animal Pharmaceuticals, hereinafter referred to as “Aiyi Animal Pharmaceuticals”) has successfully completed its Series C financing round, amounting to hundreds of millions of RMB.。ThisThis round of equity financing was co-led by Yuanxi Haihe Fund and Songqing Shenhui Jiarui Fund, with follow-on investments from Sealand Innovation Capital, Xingkong Capital, and the Runpu Fund of GSR United Capital. As an existing shareholder, Su Gaoxin Rongsheng continued to increase its investment.In addition to the equity component, this round of financing further bolstered the company’s long-term capital through a ten-year debt financing arrangement.。CEC CAPITAL served as the exclusive financial advisor in this transaction.。

Suzhou Aiyi Animal Medicine Co., Ltd. is a leading Chinese pet vaccine enterprise dedicated to the research and development, registration, and production of world-class pet vaccines., addressing the long-standing issues of limited product variety and strain mismatch in China’s domestic pet vaccine market. Its product pipeline covers key pet vaccine categories currently lacking in China, globally innovative vaccines targeting both Chinese and international markets, as well as domestically produced alternatives and upgraded versions of existing imported pet vaccines. Dr. Zhu Xianzhu, Founder and President of the company, previously held senior executive positions—including Executive Vice President, Chief Scientific Officer, Chief Biologics Officer, and Head of Global R&D—at multinational corporations such as Fort Dodge Animal Health, Pfizer Animal Health (now Zoetis), Elanco Animal Health, and Ceva Santé Animale. The Aiyi Animal Medicine team he assembled and led has cumulatively developed and registered over one hundred animal vaccines and pharmaceuticals, making it the most experienced and accomplished R&D team globally in the field of pet vaccines. To date, Suzhou Aiyi Animal Medicine Co., Ltd. has completed five rounds of financing, receiving investment and support from multiple US dollar and RMB private equity funds, industrial capital, and local government guidance funds.

The most advanced product in Suzhou Aiyi Animal Medicine Co., Ltd.'s R&D pipeline is the canine Bordetella bronchiseptica vaccine., also commonly known as the kennel cough vaccine or Bb Vaccine, is an important canine vaccine internationally. It is used to prevent respiratory diseases such as coughing and wheezing caused by Bordetella bronchiseptica infection in dogs, as well as to reduce the risk of severe illness and death. Canine Bordetella bronchiseptica (Bordetella bronchiseptica, B.b), a Gram-negative bacillus belonging to the genus Bordetella, is one of the primary pathogens responsible for canine infectious respiratory disease (CIRD), commonly known as kennel cough. Infection with Bordetella bronchiseptica not only causes upper respiratory tract infections in dogs but also increases the risk of secondary and co-infections with other respiratory pathogens. Bordetella bronchiseptica poses significant health and life-threatening risks to pet dogs, causing considerable distress and impact on pet-owning households.

In developed countries in Europe and North America, vaccinating dogs against kennel cough has become a standard practice for pet owners. In addition to regular vaccination, dogs are required to receive the kennel cough vaccine for primary or booster immunization before entering high-risk environments where Bordetella bronchiseptica transmission is likely, such as veterinary hospitals, boarding facilities, pet hotels, and grooming salons. The consumption of kennel cough vaccines in Europe and North America is substantial, with annual sales in the U.S. market reaching tens of millions of doses. Major multinational corporations, including Zoetis, Merck Animal Health, Elanco Animal Health, and Boehringer Ingelheim Animal Health, have registered and commercialized kennel cough vaccines in these regions. Currently, no comparable products are available on the Chinese market. Suzhou Aiyi Animal Medicine Co., Ltd. has developed an intranasal kennel cough vaccine based on strains prevalent in China, utilizing a mucosal immunity approach. This vaccine provides complete immunization with a single intranasal administration, a dosage form internationally recognized by the veterinary community as the most convenient to administer and offering the best protective efficacy.

Liu Ming, Partner at Yuanxi Haihe FundYuanxi Haihe (Tianjin) Biomedical Industry Fund Partnership (Limited Partnership) stated: “Leveraging its industrial resources in the vaccine sector, Yuanxi Haihe Fund possesses profound understanding and technical judgment of the vaccine and biologics fields. The management team of Suzhou Aiyi Animal Medicine Co., Ltd. has extensive R&D and management experience in multinational corporations. Through in-depth engagement with and evaluation of Aiyi Animal Medicine, we have observed that its R&D capabilities, team expertise, production technology, and quality systems all meet the highest international standards. We believe that Aiyi Animal Medicine will achieve significant success in the pet vaccine sector and grow into China’s most internationally oriented animal health enterprise.”

Du Jiaying, Investment Director of Songqing Shenhui Jiarui Fund“It indicates that China’s pet economy is in a stage of rapid development. Compared with developed countries in Europe and the United States, China’s pet healthcare market possesses substantial room for growth and potential. However, as the category with the highest R&D barriers and the highest product value-added in the pet healthcare sector, the pet vaccine market is predominantly dominated by imported brands. The R&D efforts of Suzhou Aiyi Animal Medicine Co., Ltd. will bring more products and better options to the pet vaccine market. We look forward to the gradual launch of Aiyi’s pet vaccines under development in the near future, providing more effective and safe products to help control diseases in dogs and cats and improve pet health.”

CEC CAPITAL Vice President Zou Ruihangstated: “Suzhou Aiyi Animal Medicine Co., Ltd. boasts the world’s leading R&D team and the most comprehensive pipeline layout in the field of pet vaccines, and is currently in a phase of rapid growth. This Series C financing round has provided the company with substantial long-term capital, which will undoubtedly drive its faster and better development. In the recent capital market environment, we are pleased to have assisted one of the industry’s most outstanding companies in completing its financing, and we extend our gratitude to all investors for their attention and support toward Suzhou Aiyi Animal Medicine Co., Ltd.”

The Yuanxi Haihe Fund, a joint initiative by CanSino Biologics and GSR Capital, is dedicated to co-creating and sustaining an innovative and synergistic biomedical ecosystem. Rooted in and serving the industry, the fund promotes the coordinated development of capital and industry through a win-win approach. By leveraging CanSino Biologics’ extensive industrial resources and GSR Capital’s professional investment management expertise, we believe this partnership will bring greater opportunities and innovation to the biomedical sector, advancing medical technology and contributing to human health.

The Songqing Shenhui Jiarui Fund was established to support the Shanghai municipal key science and technology project, the “G60 Brain-Intelligence Science and Technology Innovation Base.” Adopting a business model that integrates the scientific base with fund operations, and partnering with leading domestic research institutions and academies, the fund focuses on addressing “chokepoint” technologies in the sci-tech industry. It fosters the incubation, translation, and industrialization of scientific and technological achievements by investing in and coordinating the R&D of cutting-edge technologies.

Sealand Innovation Capital, a private equity fund management subsidiary of Sealand Securities (Stock Code: 000750), has a registered capital of RMB 2 billion and manages assets exceeding RMB 20 billion. Focusing on technological innovation and healthy living, its investment portfolio spans healthcare, new energy, new materials, and manufacturing. Committed to value investing, the firm provides comprehensive services to foster corporate growth and deliver stable returns to investors.

Xingkong Capital focuses on equity investments in the pharmaceutical and healthcare sectors. With profound industry insights and extensive industrial resources, it has invested in numerous outstanding enterprises in sub-sectors such as innovative drugs, innovative medical devices, biotechnology, and digital health. Committed to benefiting patients, Xingkong Capital is dedicated to deepening its industry engagement, supporting the growth of scientists and entrepreneurs, and delivering superior returns to investors.

SND Rongsheng is a market-oriented private equity fund management company under SND Financial Holdings Group, which is directly affiliated with the Administrative Committee of Suzhou New District. It primarily focuses on industries such as biopharmaceuticals and medical devices, high-end equipment manufacturing, and new materials. The company currently manages funds totaling approximately RMB 1.6 billion. It has successfully facilitated the listings of Huasheng Lithium (688353) and Canadian Solar (688472) on the STAR Market, and maintains a pipeline of multiple pre-IPO projects in the healthcare and high-end equipment manufacturing sectors.

GSR United Capital focuses on high-tech investments, with assets under management exceeding RMB 7.5 billion. Its healthcare team primarily concentrates on biopharmaceuticals, in vitro diagnostics (IVD), life science technology platforms, and medical devices. Adopting an investment strategy centered on early-stage opportunities while selectively participating in high-quality late-stage projects, the firm leverages its accumulated resources to rapidly establish GSR United’s healthcare brand.