Sunny Health Biopharma Secures Over RMB 100 Million Series A+ Financing Led by Hongtai Capital to Advance Clinical Development of Novel Anti-Diabetic Drug

VCBeat (WeChat ID: vcbeat) has learned that Shengshi Taike Biopharmaceutical Technology (Suzhou) Co., Ltd. has secured over RMB 100 million in its Series A+ financing round, led by Hongtai Capital and participated by ABC International. The funds will primarily be used to advance the clinical trials of its novel antidiabetic drug, Shenggliptin, and to support the research progress of other innovative drug candidates in the pipeline. Additionally, its orphan drug products, which have already completed the consistency evaluation, are scheduled to be launched in the market early next year.

Shengshi Taike Biopharmaceuticals, founded in 2010 by Dr. Yu Qiang and headquartered in the BioBAY of Suzhou Industrial Park, is dedicated to the research and development, manufacturing, and commercialization of innovative small-molecule drugs. The company’s core product, Shenggliptin, is a novel DPP-4 inhibitor for diabetes treatment. Having completed Phase I clinical trials, it has the potential to become a best-in-class therapy. Additionally, the company maintains a pipeline of investigational new drugs for oncology.

The lead investor is Hongtai Capital Holdings, which evolved from Hongtai Fund and is a diversified investment holding company with unique advantages in China. It was co-founded in 2014 by renowned entrepreneur Mr. Yu Minhong and senior investment banker Mr. Sheng Xitai. The Hongtai Medical Investment Team believes that Shengshi Taike has strategically laid out its product pipeline across short-term, medium-term, mid-to-long-term, and long-term horizons. The founding team members all possess extensive experience in R&D, entrepreneurship, and business management within the pharmaceutical industry. There is strong synergy between R&D and operational talent, with complementary areas of expertise in research and development, resulting in significant team composition advantages.

Dr. Yu Qiang, founder of Shengshi Taike, stated that as a pharmaceutical R&D company integrating innovation with imitation, Shengshi Taike will continue to focus on the diabetic population in China, which exceeds 100 million patients. Building on the excellent clinical results already achieved, the company will further advance the Phase III clinical trials of its new glucose-lowering drug, Shenggliptin.

In addition, for therapeutic areas such as multiple sclerosis, which has been included in the National Rare Disease Catalog but currently relies solely on expensive imported drugs from abroad, the company will launch its products that have completed bioequivalence evaluations onto the market early next year. Meanwhile, the company will continue to build its new drug pipeline in the fields of diabetes and cancer, while simultaneously advancing the research, development, and manufacturing of generic drugs for rare diseases.

As a seasoned pharmaceutical professional with years of industry experience, Dr. Yu Qiang expressed his strong commitment to alleviating patient suffering and improving their quality of life. Although the path ahead is fraught with challenges and uncertainties, Shengshi Taike firmly believes that its future growth will exceed expectations under a framework of win-win cooperation. He stated, “We extend our gratitude to all employees of Shengshi Taike; without their diligent efforts and hard work, we would not have achieved such solid scientific research outcomes. We also thank all investors for their trust and support, and look forward to growing together with everyone in the future.” As the saying goes:

Shengshi Taike Biopharmaceutical Technology (Suzhou) Co., Ltd. was founded in 2010 by Dr. Yu Qiang, who holds a Ph.D. from the United States. The company is a high-tech enterprise dedicated to the research and development, manufacturing, and sales of innovative small-molecule drugs. Since its establishment, the company has filed multiple invention patent applications and has been granted two patents. Among these is Shenggliptin, a patented Class 1 novel hypoglycemic drug, which was successfully selected for the National “Major New Drug Development” Special Projects during both the 12th Five-Year Plan (2012) and the 13th Five-Year Plan (2018). This inclusion signifies that the project has been integrated into the national framework for key support of innovative pharmaceuticals. Preclinical studies have demonstrated that Shenggliptin’s primary technical indicators and long-term benefits are significantly superior to those of Sitagliptin, a globally comparable product. Shenggliptin received clinical trial approval from the China National Medical Products Administration (NMPA) in 2017 and commenced clinical studies at the end of that year. Both preclinical data and recently completed Phase I clinical trials indicate that Shenggliptin’s main technical parameters and long-term therapeutic benefits substantially outperform those of Sitagliptin.

Furthermore, since 2014, the company has leveraged its technological advantages to actively provide R&D services, achieving annual sales revenues in the tens of millions of yuan for several consecutive years and securing strategic initiative for its survival and development. The company’s Class 3 drug projects that have obtained clinical trial approvals include asenapine maleate, teriflunomide, vortioxetine, and belinostat. Among these, teriflunomide has completed the consistency evaluation and will submit a marketing authorization application in the near future. The company has received strong support and full recognition from local governments and national authorities, securing funding support and honors for multiple projects. It will continue to actively pursue financing, thereby providing a solid financial guarantee for its new drug development programs.

Hongtai Capital Holdings evolved from Hongtai Fund and is a diversified investment holding company with unique advantages in China. It was co-founded in 2014 by renowned entrepreneur Mr. Yu Minhong and senior investment banker Mr. Sheng Xitai. Hongtai Capital Holdings has established a comprehensive, full-lifecycle investment management platform, with investment activities spanning angel/venture capital, private equity, mergers and acquisitions, fund of funds, financial market operations, wealth management, and international business. Additionally, it has developed industrial and ecosystem business segments such as Hongtai Intelligent Manufacturing and Hongtai Cultural Tourism. Upholding the values of “Transformation • Co-creation, Empowering Others • Achieving Self,” and guided by its mission to “partner with outstanding entrepreneurs to make the world a better place,” Hongtai Capital Holdings is committed to becoming a driver of innovation and an integrator across industries.

Its manager’s actual controller, Agricultural Bank of China, is a world-leading comprehensive bank and one of the market leaders in China’s banking sector, ranking 6th among the top 1,000 banks globally at the end of 2017. The manager is based in Suzhou and Wuxi, which belong to the Yangtze River Delta urban agglomeration. In 2016, this region recorded a GDP of RMB 14.7 trillion, topping the three national-level urban clusters—the Yangtze River Delta, the Pearl River Delta, and the Beijing-Tianjin-Hebei region. Leveraging its parent bank’s comprehensive financial service capabilities spanning investment banking, fund management, and financial leasing, the manager provides diversified, integrated services to target clients. Focusing on specific industries, clients, regions, and services, the manager embeds risk control throughout the entire investment process, pursuing investment returns with a high margin of safety.