Medicilon Announces an IPO on Sci-Tech Innovation Board in China

Shanghai Medicilon Inc. ("Medicilon") has announced an IPO on Sci-Tech Innovation Board at Shanghai Stock Market, coded as "688202". The stock price is 41.50 yuan per share and the total amount of shares is 15.5 million, which comes up to the total capital of 643 million yuan. The fund raised in the stock will be used to boost its global capability and capacity. Furthermore, Medicilon would like to invest the net amount on establishing the new research technology for innovative drug discovery and development, GLP and GMP manufacture, supplying work capital and commercializing the business model.

The fund will help Medicilon to scale up, improve the quality of service, strengthen competitiveness, keep the leading position in the industry, and further improve the company's development ability.

Since the establishment in 2004, Medicilon has grown into one of the professional drug discovery contract research organizations (CRO) in China. Over the years, the company keeps improving our service system in biotechnology and pharmaceutical research. Its services now span cross medicinal chemistry, process chemistry, in vitro and in vivo DMPK, preclinical development, and bioanalytical support.

In the past 15 years, Medicilon has worked with more than 500 clients worldwide on scientific research, among which more than 60 cases successfully gained certifications for Phase I clinical trials. Its research team is capable of the medicinal research of small molecule chemicals, antibody, PROTAC, ADC, CAR-T, etc.

"We will continue to provide excellent services to our clients worldwide. With a goal of enabling more people to embrace the brightness of good health, we in Medicilon strives to innovate, for the success of new drug development! "said Chunlin Chen Ph.D., CEO of Medicilon, in an IPO launch statement.