Sinotau, an innovative pharmaceutical company specializing in radiopharmaceuticals, has announced the completion of a new round of financing worth over CNY 1.1 billion. The funds raised will be used for the research, development, and clinical application of diagnostic and therapeutic radiopharmaceuticals. This financing round is the largest in the pharmaceutical sector so far in 2023 and reflects the high recognition of the capital market for Sinotau. The company has established R&D centers and production bases in several locations in China and has cooperative relationships with multinational pharmaceutical companies. Sinotau is focused on the development of targeted therapy and precision diagnostic radiopharmaceuticals in the areas of tumors, neurodegenerative diseases, and cardiovascular conditions. The global radiopharmaceutical market is expected to reach USD 26 billion by 2030. However, the domestic nuclear medicine market in China is still relatively small compared to the global market share. With the liberalization of the domestic nuclear medicine equipment license and the rise of innovative companies like Sinotau, the Chinese nuclear medicine market is expected to experience significant growth. Sinotau has been actively involved in both technology introduction and independent research and development, and has obtained development and commercialization rights for several nuclear drug products in China and globally. The domestic nuclear drug industry still faces challenges such as weak foundations, dependence on imported medical isotopes, regulatory policy gaps, and CRO service gaps. The financing round was led by SDIC VENTURE CAPITAL and Goldstone, with participation from national teams, industrial groups, and well-known investment institutions. Existing shareholders, including China Life Private Equity Investment Company Limited and LAKE LOTUS LAKE CAPITAL, also increased their shareholdings. WinX Capital acted as the exclusive financial adviser for the transaction.
Thu, 13 Jul 2023 09:39:36 GMT | EqualOcean