Bostal Completes Series B1 Financing of Hundreds of Millions of RMB to Accelerate Development of 505(b)(2) Innovative Drugs and Long-Acting Controlled-Release Formulations
VCBeat has learned that Guangzhou Bositao Controlled Release Pharmaceutical Co., Ltd. (“Bositao”) announced it had recently completed a Series B1 financing round amounting to hundreds of millions of RMB., this round of financing was led by Huatai Guoxin Fund under Huatai Zijin, with co-investment from Chuangyu Ming’an Fund under Chuangyu Investment, Zhongfu Yide Fund under Sanmei Investment, and Guangzhou Jet Biofiltration Co., Ltd.The proceeds from this round of financing will be primarily used for the development of Bositao’s 505(b)(2) innovative drugs and complex long-acting sustained-release formulations, as well as to optimize the company’s equity structure.
Founded in 2013, Bositao is a company whose core competitiveness lies in novel drug delivery system technologies. The company’s vision is to become an internationally leading pharmaceutical group specializing in high-end complex formulations and 505(b)(2) new drugs, integrating research and development, manufacturing, and sales. Led by its founding core team, headed by Dr. Liu Rong and Dr. Tong Weiqin, who have engaged in research on novel drug delivery systems in the United States for many years,Bositao has established ten major novel drug formulation technology platforms and developed multiple proprietary novel drug formulation technologies., and established a modern laboratory with a total area of 68,000 square meters, as well as a GMP-compliant industrial base for high-end oral formulations and complex injectables.
Since its establishment, Bositao has provided technical development services for formulation products to numerous leading pharmaceutical companies both in China and abroad, with 20 of its supported products successfully submitted for regulatory registration to the drug authorities in China and the United States.Its product portfolio covers innovative drugs, improved new drugs, and high-end generic drugs.In recent years, Guangzhou Bositao Controlled Release Pharmaceutical Co., Ltd. has vigorously developed complex injectables and 505(b)(2) new drugs, achieving multiple milestone advancements. Several 505(b)(2) products have received pre-IND approval from the U.S. FDA and are poised to enter the IND submission phase. In the coming years, Bositao’s complex injectables and 505(b)(2) products are expected to be completed sequentially, injecting strong momentum into the company’s growth.
Dr. Liu Rong, Chairman of BositaoHe expressed his sincere gratitude to the Guangzhou Development District Government and the existing shareholders of Bositao for their steadfast support throughout the company’s journey. He also extended his appreciation to the investors in this round for their recognition and backing. The company will continue to focus on the innovative R&D of novel drug delivery systems, advancing more independently developed 505(b)(2) products and complex injectables toward industrialization. This effort aims to provide patients with medicines that are more convenient, longer-acting, and of greater clinical value, while also delivering stronger returns to shareholders.
Dr. Chen Miao, Co-Head of Huatai Zijin Healthcare FundIt is stated that Bositao is one of the few pharmaceutical companies in China currently dedicated to the research and industrialization of novel drug delivery technologies. Led by its founder, Dr. Liu Rong, the core team has been deeply engaged in novel drug delivery technologies for many years, accumulating extensive experience in this field. The company has established a highly competitive R&D platform for novel drug delivery technologies, boasts a robust product pipeline with strong industrialization capabilities, and has achieved significant milestones with multiple 505(b)(2) products and complex injectables. These accomplishments demonstrate substantial growth potential, positioning Bositao to become a leading global enterprise in the development of novel drug delivery technologies.
Heads of Chuangyu Investment, Sanmei Investment, and Jet BiofilThey expressed admiration for the Bositao team’s persistent dedication over the years to the research and development of novel drug delivery systems, and affirmed the R&D capabilities and scale of the pharmaceutical formulation technology development platform that Bositao has built over eight years. They believe that Bositao will bring an increasing number of blockbuster products to market in the future, providing high-quality medications to more patients. The investment institutions are willing to leverage their resources in the healthcare sector to provide comprehensive support for Bositao’s products in areas such as clinical research and commercialization.