Preclinical CRO Hu-G港 Zhongke Secures Nearly RMB 100 Million Series B Financing Led by AstraZeneca-CICC Healthcare Fund

2022Year11Month28 Day,ZSHKInternational Biotechnology Co., Ltd. (hereinafter referred to as“ZSHK”) announced the completion of a nearly RMB 100 millionBRound of Financing. This round of financing was led by the AstraZeneca CICC Healthcare Industry Fund, with existing shareholder Jishi Capital participating again. The funds raised will be primarily used to advance innovative drugs./Development of Key Resources for Preclinical Evaluation of Medical Devices and Strategic Layout for Business Expansion in Hong Kong and International Markets.

ZSHK provides outsourced preclinical research and evaluation services for biopharmaceuticals and medical devices (“preclinicalCRO”) as its core business, the company provides a one-stop service platform encompassing safety evaluation studies, pharmacological and efficacy studies, and pharmacokinetic studies. It has established preclinical research and evaluation laboratories in three locations: Hong Kong Science Park, Pingshan District in Shenzhen, Guangdong Province, and Suzhou Industrial Park in Suzhou, Jiangsu Province. ZSHK is actively strengthening its supply chain infrastructure, with strategic layouts including experimental beagle dogs in Hunan and breeding and scientific research bases for non-human primates in Guangxi.

Driven by innovative drugs, China's pharmaceutical industry has developed rapidly. Over the past five years, the number of initial clinical trial applications for innovative drugs has increased tenfold, with a large number of domestically produced innovative drugs entering clinical development. Preclinical research and safety evaluation services have provided an important foundation for this progress. However, preclinical safety evaluation services possessAccess barriers, only in specializedGLPConducted in the laboratory, various qualification certifications are difficult and time-consuming; a senior professional team with extensive experience is preclinicalCROScarce Resources in the Industry.

ZSHK boasts comprehensive, integrated pharmaceutical R&D service capabilities and technical platforms, supported by a fully structured, senior professional team in the field. Its core members include senior scientists with extensive expertise in toxicology, pharmacologists, immunology researchers, laboratory animal science specialists, pathologists certified by the American Society for Clinical Pathology (ASCP), as well as seasoned scientists with years of industry experience in quality management, facility construction, and operations management.

Founder andDr. Li Ming, CEOstated: “China’s new drug R&D model is shifting from follow-on, imitative innovation to original innovation; China’sCROEnterprises will engage in the R&D and translation of pharmaceutical innovation companies more extensively and at an earlier stage.For preclinicalCROFor enterprises, this presents both challenges and opportunities for development. ZSHK will continue to explore R&D service models that better align with the development trends of China’s pharmaceutical industry, leverage its advantage of multi-site laboratory layout in the Greater Bay Area, enhance its scientific and technical capabilities as well as team service capacities required for preclinical drug development, and thereby better empower pharmaceutical innovation companies in their product pipeline development. Meanwhile, ZSHK will provide one-stop services for the regulatory filing of its clients’ original R&D achievements in China and globally, striving to become the most valuable R&D partner for pharmaceutical innovation enterprises.”

Mr. Chen Bing, Managing Director of the CICC-AstraZeneca Healthcare Industry Fund, Vice President of AstraZeneca China, and Head of Strategic Partnerships and Business Developmentstated: “ With the rise of China's innovative drug industry, preclinical CRO services boast very broad development prospects, with R&D enterprises, investment institutions, and local governments all recognizingToCROOn R&D Innovation in Pharmaceuticals and Medical Devicesits enabling role and foundational support role.ZSHK boasts an integrated, end-to-end regulatory submission service platform that meets international standards, along with a team of seasoned industry scientists and an excellent management team, covering multiple regions across mainland China and Hong Kong.GLPlevel laboratory has also strengthened the company’s unique advantages. We will fully mobilize AstraZeneca’s global ecosystem resources to empower the company’s future development.”

Mr. Shan Junbao, Chairman of CICC Capital and Designated Representative of the Executive Partner of the AstraZeneca-CICC Healthcare Industry Fund, stated: “Preclinical research evaluation institutions are a critical link in the process of translating basic research into applied outcomes. Core members of the ZSHK team”Over the past two decades, we have cultivated extensive industry expertise through close collaborations with leading Chinese universities, research institutes, pioneering pharmaceutical R&D enterprises, and internationally renowned large pharmaceutical companies. We believe that one-stop solution providers with strong scientific capabilities, such as ZSHK,CROEnterprise service platforms can meet the multi-level needs of R&D enterprises at different stages., supporting the accelerated development of China's innovative drug industry.” 

Dr. Shao Ying, Founder of Jishi Capital, stated“Preclinical R&D service providers will play an increasingly important role in the adjustment and development of China’s biopharmaceutical innovation models. ZSHK’s ‘one-stop’ preclinical R&D services will serve as a powerful driver for the innovative development of the biopharmaceutical industry in the Greater Bay Area, becoming an enabler of knowledge, talent, and technology for Hong Kong’s innovation and technology hub. Jishi Capital continues to invest in strengthening preclinical R&D innovation capabilities and infrastructure, thereby promoting the further development of biopharmaceutical innovation in the Greater Bay Area and across China.”

The AstraZeneca CICC Medical Industry Fund is a private equity fund jointly initiated by AstraZeneca and CICC Capital, focusing on investments in the healthcare industry. Leveraging AstraZeneca’s global industrial strengths and CICC Capital’s extensive experience in capital operations, the fund concentrates on investment areas such as biopharmaceuticals, medical devices, diagnostic services, and digital health. It is committed to integrating industrial and financial resources to provide comprehensive, full-cycle empowerment to enterprises and investment partners, jointly fostering innovative development in China’s healthcare industry.

Jishi Capital is an emerging healthcare fund established in 2020. It focuses on investing in innovative medical devices, biopharmaceuticals, and related technologies. The company’s team comprises seasoned professionals from both the healthcare and investment sectors. Committed to advancing the health industry, Jishi Capital strives to identify innovative medical products and technologies worldwide, facilitating their product development and commercialization in the Chinese market. Its vision is to become a powerful driver for innovative medical products and companies.