Lianya Pharmaceuticals Completes Nearly RMB 400 Million Financing to Advance Drug Delivery and Modified-Release Formulation R&D

VCBeat (WeChat ID: vcbeat) has learned that on January 29, 2021, Nantong Lianya Pharmaceutical Co., Ltd. (“Lianya Pharma”) announced the completion of a new round of financing amounting to nearly RMB 400 million, less than a year after its previous funding round. This round was led by HighLight Capital, with Shiyu Capital participating as a co-investor. The proceeds will be used to optimize the shareholder and corporate governance structures, thereby creating favorable conditions for the company’s successful relisting on China’s A-share market.

Since its establishment, NOVAST has been dedicated to the research and development of drug delivery systems and sustained- and controlled-release formulations. The team at NOVAST has collectively developed more than 180 new drugs and generic drug products for the global pharmaceutical industry.

Currently, NOVAST has 40 drug formulations approved for marketing by the U.S. FDA, including more than 30 hormonal products and nine oral extended-release and controlled-release formulations. Several of these products hold leading market shares in the United States, and ANDAs have been filed for them in China. In the future, NOVAST will evolve into an international enterprise deeply engaged in both the Chinese and U.S. markets, meeting the quality standards and demands for high-end generic drugs and hormonal pharmaceuticals in both countries.

Dr. Zhang Guohua, Founder and Chairman of NOVAST“NOVAST’s team adheres to the development philosophy of ‘Quality First, Science and Technology as the Foundation, and Market Leadership,’ striving to achieve two major objectives. The first is to internationalize high-end formulations developed and manufactured in China, providing cost-effective, high-quality pharmaceuticals to the U.S. prescription drug market while expanding into other global markets to benefit humanity. The second is to introduce high-end formulations produced on shared production lines for both the U.S. and Chinese markets back into the domestic market, thereby reducing the cost of imported medicines and benefiting patients in China. After more than a decade of innovative development, NOVAST has preliminarily achieved its first objective, with the second objective close to realization. I believe that this round of financing, led by Honghui Capital and participated in by Shiyu Capital, will further optimize the company’s structure and operations, continuing NOVAST’s relentless pursuit of actively participating in the dual circulation of domestic and international markets, serving global health, and maximizing value for patients, partners, investors, and employees.”

Jiang Yanye, Spokesperson for Honghui Capitalstated: “Following our participation in the previous funding round alongside Legend Capital and other investors to support NOVAST, we are deeply honored to continue empowering the growth of the NOVAST team. Dr. Zhang Guohua and his team possess extensive R&D and management expertise in the advanced drug delivery sector, coupled with distinctive business acumen. We are confident that under Dr. Zhang’s leadership, the NOVAST team will not only produce high-quality, cost-effective medicines in the field of advanced oral solid dosage forms but also introduce advanced formulations to the domestic market, thereby benefiting a broader population of patients in China.”