Yitai Pharmaceutical Closes a ￥100M Funding Round

According to prnasia.com, Hubei Yitai Pharmaceutical Co., Ltd. ("Yitai Pharmaceutical") has recently raised 100 million yuan in new funding round, with participation from Changjiang Securities, Wanlian Securities, Infinity Group and Zhongyuan Jiupai Fund. Hairui Enterprise Services acted as the financial adviser in the latest round.

Founded in 2000 and headquartered in Tianmen City, Hubei, Yitai Pharmaceutical mainly engages in the research and development, production, and sales of antiviral API and food additives. Its antiviral API products include acyclovir, ribavirin, clindamycin, ganciclovir, propofol tenofovir fumarate and others. Food additives include gluconolactone, folic acid and others.

Over the past 20 years, Yitai Pharmaceutical has grown into one of the world's largest suppliers of acyclovir and gluconolactone, and one of the top three suppliers of ribavirin API in the industry.

Yitai Pharmaceutical attaches importance to product research and development. The company has established a research and development team of more than 60 people, led by Ph.D. experts, and has been continuously swelling. It has built 10 small test laboratories, 2 pilot test laboratories, 1 technical information room and 1 testing center, which can accommodate more than 60 people and carry out 10 scientific research projects at the same time.

During the outbreak of COVID-19 in 2020, Yitai Pharmaceutical actively responded to the national call to fight the epidemic and has made full use of its professional advantages to fight against COVID-19. With the approval of the government, the production of ribavirin API was officially resumed in February 2020 to provide support for the fight against the epidemic.

At present, Yitai Pharmaceutical has successfully completed the pilot trial of the synthesis technology of the related intermediates of redesivir, and has made preparations for the mass production.

Founded in 1993 and backed by prominent partners and investors such as the China Development Bank and Clal Industries, Infinity has a solid reputation as a leading platform for fund management. Infinity is considered the world’s leading cross-border, Chinese focused management group with over US$1.5 billion under management through 23 funds in China.

Zhongyuan Jiupai Fund is an industrial fund jointly launched in October 2016 by the listed company Zhongyuan, Hubei High-Tech Industry Investment, a platform for science and technology investment and financing in Hubei, and Jiupai Capital. The company has initiated six equity funds, with the total amount of funds under management exceeding 1 billion yuan.