Aster (Chengdu) Biopharmaceutical Co., Ltd. Secures Nearly RMB 200 Million in Series B Funding to Accelerate Production Base Construction and Capacity Expansion
VCBeat’s New Medicine learned at the earliest opportunity that, recently, Asta Tech (Chengdu) Biopharmaceutical Corp. (hereinafter referred to as “Asta”)Completed a Series B financing round of nearly RMB 200 million, led by Shenwan Hongyuan Securities, with participation from Gree Financial Investment, Guanghua Wutong, Kangju Venture Capital, Mingcheng Ruiying, Chengdu Daopu, and others. The proceeds will be primarily used for the expansion and upgrading of R&D facilities in Wenjiang, as well as the construction of production bases in Yibin, Jinchang, Guangan, and other locations.
Asta Tech, established in 2005, is a high-tech enterprise dedicated to providing global pharmaceutical companies with customized R&D (CRO), customized R&D and manufacturing (CDMO), customized manufacturing (CMO), active pharmaceutical ingredient (API) process development (CMC), and chemical process safety assessment services. It is a globally leading green chemistry reaction technology platform company.
Asta Tech operates a 12,000-square-meter R&D and pilot-scale laboratory facility in Wenjiang District, Chengdu, supported by an R&D team of over 180 professionals, accounting for more than 45% of its total workforce.Established green chemistry platforms primarily comprising continuous flow technology, biocatalysis, homogeneous catalysis, fixed-bed catalysis, and photocatalysis, as well as advantageous technology platforms including thiophosgene reaction technology, chlorination reaction technology, and other specialized reaction platforms.Furthermore, Asta Tech has established multiple production bases in China: the Guang’an (Sichuan) Production Base, the Yibin (Sichuan) Production Base, and the Jinchang (Gansu) Production Base, which are scheduled to be officially commissioned in phases in 2022 and 2023. The Guang’an (Sichuan) Production Base will feature standardized GMP-compliant manufacturing workshops, while the Jinchang (Gansu) Production Base will be equipped with capabilities for hazardous chemical reactions, including nitration and chlorination. With a robust pipeline of projects, many of which are in Phase II and Phase III clinical trials, the company’s production capacity will be further unlocked upon the commencement of operations at these facilities, enabling it to provide customers with safe, efficient, and green process development and manufacturing solutions.
After nearly two decades of development, Asta Tech has provided advanced intermediates for active pharmaceutical ingredients (APIs) of preclinical, Phase I, Phase II, Phase III, and marketed new drugs to over a thousand clients, along with tens of thousands of novel advanced intermediates for new drug research and development. The company has established a production system spanning from laboratory-scale and pilot-scale trials to industrial-scale mass production. It has built a comprehensive technological R&D system for API intermediates and specialty chemicals, as well as quality management systems centered on ISO 9001 and ICH Q7, an ISO 14001 international environmental management certification system, an OHSAS 18001 occupational health and safety management system, and a GB/T 29490-2013 intellectual property management system. Asta Tech has filed 130 patent applications, including 101 invention patents, and has been granted 79 patents.
Guo Peng, Chairman of Asta Tech“The financing marks a significant milestone in the development journey of Asta Tech. We extend our sincere gratitude to investors including Shenwan Hongyuan, Gree Capital Investment, Guanghua Wutong, Kangju Venture Capital, and Mingcheng Ruiying for their trust in Asta Tech. This investment has instilled in us great confidence and momentum. With this funding, Asta Tech will accelerate the construction of its production base, advance the industrialization of key products, and deliver higher-quality services to customers.”
Yuan Peng, Investment Director at Shenwan HongyuanIt stated: “Asta Tech (Chengdu) Biopharmaceutical Corp. (Asta Tech) began its journey almost in sync with leading listed pharmaceutical companies in China. The founder has deep industry expertise, the company has over 20 clinical Phase III projects, and its technology platforms are distinctive. In particular, its continuous flow reaction technology enables multi-step continuous processes and supports a wide variety of reaction types. Notably, the company independently designs both its equipment and processes, which is rare in the industry. However, located in Southwest China, Asta Tech previously lacked its own manufacturing bases due to various early-stage challenges, resulting in delayed revenue growth. Currently, as its self-owned facilities in Yibin and Gansu, along with other production bases, gradually commence operations, the company’s financial performance is expected to achieve rapid breakthroughs in the near future.”
Wang Fei, Investment Director at Guanghua WutongIt stated: “As a seasoned CDMO enterprise incubated locally in Wenjiang District, Asta Tech has been rooted in the region for nearly 17 years. Its founder, Mr. Guo Peng, boasts extensive experience in the small-molecule CDMO industry. The company possesses robust R&D capabilities and features several specialized technology platforms, including continuous flow chemistry, thiophosgene chemistry, and biocatalysis. With a pipeline of multiple blockbuster products in reserve, Asta Tech is poised to achieve leapfrog growth in performance as its subsequent production bases commence operations and release capacity.”
Wu Yaling, General Manager of Kangju Venture CapitalIt stated: “Kangju Venture Capital is highly optimistic about the growth potential of the CDMO industry, which provides safe, efficient, and green services for global small-molecule innovative drugs. Asta Tech has accumulated 17 years of expertise in its synthesis technology platform. Its R&D team possesses a profound understanding of green chemistry process development and system construction for core intermediates of innovative drugs, with nationwide leading capabilities in microchannel continuous flow technology, thiophosgene technology, and biocatalysis. We are delighted to grow alongside the Asta Tech team, delivering better services to customers. With the accelerated construction of production bases and the implementation of industrialization for key products, Asta Tech will achieve leapfrog development.”
Shenyin & Wanguo Investment Co., Ltd. is a wholly-owned subsidiary of Shenwan Hongyuan Securities Co., Ltd. It was approved for establishment by the China Securities Regulatory Commission (CSRC) on April 9, 2009, and currently serves as the private equity fund management subsidiary under the securities company. Leveraging the strong backgrounds and robust support from its shareholders, including China Investment Corporation and Central Huijin Investment Ltd., the company has expanded into various private fund management businesses. In strict compliance with regulatory requirements, the company has established a comprehensive portfolio of equity investment funds, covering private equity (PE) funds, industrial investment funds, funds of funds (FOFs), local government guidance funds, merger and acquisition (M&A) funds, private placement funds, and mezzanine funds. Through more flexible structures, it provides small and medium-sized enterprises (SMEs) with enhanced equity and debt financing and investment services.
Zhuhai Gree Financial Investment Management Co., Ltd. was established in May 2017 with a registered capital of RMB 13 billion. As a wholly-owned subsidiary of Gree Group, Zhuhai’s first state-owned capital investment and operation platform, the company serves as a key industrial investment entity. Committed to becoming a driver for the introduction and upgrading of industries in Zhuhai, a new engine for accelerating the construction of a modern industrial system, and a top-tier innovative state-owned industrial investment institution characterized by “specialization, market orientation, distinctiveness, and branding,” the company currently focuses on Zhuhai’s four pillar industries and three advantageous industries under priority development. It has established a cluster of 33 industrial funds with a total managed scale exceeding RMB 58 billion. Through a combination of direct investments and fund-based investments, it has cumulatively invested in 378 industrial projects, with a total investment amount exceeding RMB 32 billion. Meanwhile, by integrating investment with project attraction, the company has cultivated and introduced a batch of high-quality industrial projects to Zhuhai.
Chengdu Guanghua Wutong Equity Investment Fund Management Co., Ltd., established in 2015, is a wholly state-owned fund manager in Wenjiang District, Chengdu. The company specializes in investments within the biopharmaceutical industry, primarily engaging in fund investments and direct project investments. Currently, the total scale of various master-feeder funds under management exceeds RMB 10 billion, with cumulative external investments made in 11 subsidiary funds.
Kangju Ventures is an investment firm focused on the early-stage and growth-stage healthcare sector. Its management team brings extensive experience in clinical practice, healthcare enterprise management, entrepreneurship, and angel investing, offering profound insights into the operations and investment dynamics of the healthcare industry. Kangju Ventures is committed to becoming one of China’s most professional healthcare venture capital firms, growing alongside outstanding startups and partners while sharing in their success.