Waterstone Pharmaceuticals Completes ￥430M Series C Financing

According to VCBeat, Waterstone Pharmaceuticals (Wuhan) Co., Ltd., a subsidiary of Waterstone Pharmaceuticals ("Waterstone") has announced the completion of a ￥430 million Series C financing round led by SDIC Juli Investment, with participation from Panxi Capital, YuanBio Venture Capital, Yichang State-owned Investment Ronghe and others.

Founded in December 2009, Waterstone Pharmaceuticals (Wuhan) Co., Ltd. headquarters in Wuhan Biolake. The company focuses on the research, development and production of macromolecule drugs for kidney diseases and metabolic diseases. It has a platform for screening innovative polymers. Four innovative drugs are going to enter the clinical stage one after another. At the same time, the company has built four production lines of polymers from intermediates, bulk drugs to high-end preparations. It has become the largest intermediate supplier of drugs for the treatment of hyperkalemia and hypophosphorous caused by kidney diseases for multinational pharmaceutical companies in China.

Dr. Faming Zhang, founder and chairman of Waterstone, said, "We are pleased that the company's accumulated R&D achievements have been recognized by many well-known investors. The funds raised from this financing will be used to expand the production of APIs of its core products and accelerate the global development of innovative drugs to create long-term value for shareholders. "

Founded on September 28, 2017, SDIC Juli Investment's business covers investment management, asset management, etc. It manages the SDIC M&A Investment Fund, which is initiated and established by SDIC with a total amount of 10 billion yuan.

Founded in September 2013, YuanBio Venture Capital manages the new bio-industry funds of 540 million yuan. The company invests in life sciences companies such as biotechnology, drug discovery, medical devices and healthcare services companies in the early stages. It provides capital, management, operation, and other post-investment support and services.