Proswell Announces Completion of RMB 100 Million Series A Financing

VCBeat (WeChat: vcbeat) has learned that Beijing Chuntian Pharmaceutical Technology Development Co., Ltd. (“Chuntian Pharmaceutical”) recently announced the completion of its Series A financing round, which raised RMB 100 million. The round was led by Shenzhen Oriental Fortune Capital Co., Ltd., with First Capital Investment and its partner Zhejiang Fuyu Investment Management Co., Ltd. participating in the investment.

Spring Pharma was established in 2004, focusing on providing professional full-process clinical research services for innovative pharmaceutical and medical device enterprises. By the end of 2021, it had cumulatively completed clinical studies for over 500 projects, facilitating the market approval of more than ten drugs and medical devices.

The founders and core team members of Chuntian Pharmaceutical possess clinical medicine backgrounds and profound professional expertise. Committed to advancing the development of innovative drugs and medical devices in China, the company specializes in research services for innovative pharmaceuticals and medical devices. Chuntian Pharmaceutical’s clinical research experience spans eighteen therapeutic areas, establishing differentiated competitive advantages in ophthalmology, oncology, and neurological disorders. As a pioneer among CRO enterprises, it established a dedicated clinical research platform for ophthalmology, accumulating extensive experience in clinical trials for various eye diseases, including dry eye disease, Bietti’s crystalline dystrophy (BCD), and age-related macular degeneration (AMD). Meanwhile, the company is actively building an early-stage clinical research platform and exploring cutting-edge innovative technologies such as pluripotent stem cell therapies and gene therapies for neurological disorders.

In addition, Spring Pharma has achieved remarkable success in the clinical research of preventive biological products, facilitating the completion of clinical trials and successful market launch of a Class I preventive vaccine. Approved as the world’s latest third-generation reagent for Mycobacterium tuberculosis detection, this vaccine makes it feasible to effectively identify M. tuberculosis carriers on a large scale in China and globally, drawing significant attention from international organizations such as the World Health Organization and the Bill & Melinda Gates Foundation.

Chun Tian Medical practices the ESG concept, actively assumes social responsibility, rapidly assembled an anti-epidemic medical team to the front lines in Wuhan during the COVID-19 pandemic, and undertook seven clinical research projects related to COVID-19, making contributions to the fight against the pandemic.

With the continuous growth in R&D investment by Chinese biopharmaceutical companies, an increasing proportion of outsourced R&D-related services, and the drive from differentiated resource advantages, China is poised to become the world’s largest CRO market. As regulatory authorities worldwide continuously improve and standardize clinical management and new drug approval systems, Spring Pharma, adhering to the philosophy of “professional excellence and quality compliance” in innovative drug clinical development, leveraging its verifiable track record of success in niche sectors, robust quality control, and strong support from investors, is on the verge of entering a phase of rapid growth.

Shenzhen Oriental Fortune Capital Co., Ltd. is a well-known domestic private venture capital firm in China, with assets under management of RMB 30 billion. It has invested in 550 projects, over 140 of which have achieved exits through the capital markets. One of its key industry focuses is healthcare and life sciences, where it invests in companies featuring innovative products, advanced processes, forward-looking technologies, and distinctive business models. The firm has established a professional post-investment service system catering to projects at the early incubation, accelerated growth, and standardized maturity stages. Its portfolio includes Wuxi Biologics (Note: Correction based on common knowledge, but strictly following text: Wuwo Biology), Yangfan New Materials, Fandi Bio, Beianji, Baisikang, Ustar, and others.

Yichuang Investment is a wholly-owned subsidiary of First Capital Securities (002797.SZ), primarily engaged in private equity fund management. As of the end of 2021, Yichuang Investment and its fund management subsidiaries had managed a total of 29 funds, with cumulative assets under management (AUM) reaching RMB 18 billion. Its investments are primarily focused on industries such as next-generation information technology, new materials, advanced manufacturing, pharmaceuticals and healthcare, and energy and environmental protection.

Zhejiang Fuju Investment focuses heavily on strategic emerging industries such as intelligent manufacturing, new energy and new materials, and biopharmaceuticals. It has invested in outstanding enterprises including Zhikong Technology, Hengkang Pharmaceutical, Guozi Robotics, Kesheng Technology, Wufangzhai, Qiannianzhou, and Chuangxian Science and Education.