Shengyuan Pharmaceutical Snares ￥10M in Pre-A Round of financing

According to VCBeat, recently, Shengyuan Pharmaceutical, a leading ophthalmological diagnosis and treatment platform in China, announced the completion of a Series Pre-A round worth tens of millions of yuan. The fresh round was led by Qirong Venture Capital, Xieyao Capital and Baifu Health, and Haoyue Capital acted as the exclusive financial adviser. 

Proceeds from this round will be used for the pre-clinical development of drugs in the treatment of dry eye, and the marketing of Shengyuan's point-of-care testing (POCT) devices in ophthalmology.

Founded in 2015, Shengyuan Pharmaceutical is located in Bio-Island, Guangzhou, focusing on the R&D of ophthalmology products and therapeutic drugs. The core team gathers a number of industrial elites from Pfizer, Alcon, EyeCRO and other internationally renowned ophthalmic drug companies. Shengyuan's business covers target discovery, new drug R&D, clinical development, marketing, etc., It has R&D and GMP production facilities, which ensure the capability of R&D, production and sales of products.

In terms of drugs, Shengyuan Pharmaceutical focuses on the mechanism of eye diseases. The company gives priority to projects for refractive and anterior ganglionic diseases, with simple and easy drug delivery and low risk of clinical transformation. It has developed a series of products in the form of "self-research + introduction" based on the research of Biomarker. Its first new drug is the eye drops for dry eye treatment.

Dr. Jingfeng Huang, the founder and CEO of Shengyuan Pharmaceutical, said, "I am very grateful to get the support of investors with rich experience and resources at this important stage of development. The company will continue to explore in the field of ophthalmology and promote the development of new technologies for the benefit of patients with eye diseases in China and around the world."

Established in 2017, Qirong Venture Capital is a medical investment fund jointly established by Qidi Kefu, Huarong Rongde and Yunhao Capital. It has invested in a dozen companies and brought rich returns to investors.

Xieyao Capital is a venture capital fund management platform of the Chinese Academy of Sciences in the field of medicine. It focuses on investment in new drug R&D in the early and growth stage, cultivating and incubating excellent biomedical technology enterprises.