Sinotau Closes ￥320M Series D Financing

(VCBeat) Feb. 23, 2021 -- After the completion of a Series C financing of 280 million yuan from Tongfu Innovation Industry Investment, Sinopharm Capital and other strategic partners in July 2020, Sinotau Pharmaceutical Group ("Sinotau"), a leading company in the field of radiopharmaceuticals, recently announced that it has raised 320 million yuan in Series D funding round, with total financing of 600 million yuan within 6 months.

 The latest round was led by CICC Qide Fund, a subsidiary of CICC Capital, with participation from Everest Venture Capital, Longmen Venture Capital, Panya Investment, Deyi Capital and other well-known investors. The existing investor Lotus Lake Capital continued to pour investment in Sinotau. The funds raised will be used for preclinical development and clinical trials of radiopharmaceutical products for diagnosis and treatments.

CEC Capital served as the exclusive financial adviser for this round of financing.

Sinotau is an innovative pharmaceutical company specializing in the R&D, production and academic promotion of radiopharmaceuticals. Relying on the world's leading R&D resources in the field of radiopharmaceuticals and monoclonal antibodies, the company has developed a number of precise diagnosis and targeted therapeutic drugs in the fields of neurodegenerative diseases and tumors and cardiovascular diseases. Through independent development and external cooperation, Sinotau has created a pipeline with the combination of imitating and creating and the balance of risk and benefit. The company currently has four diagnostic drugs and two therapeutic drugs in clinical trials.

CICC Qide Fund focuses on equity investment in pharmaceuticals, which is a major breakthrough of CICC's business in the biomedical industry. With excellent performance, great reputation and investment management ability, CICC Qide Fund completed its overraising in a short period of time, becoming the leading biomedical RMB fund in the past two years.

Everest Venture Capital has always been committed to its vision of investing in 100 world-class high-tech firms. Founded by Mr. XIAO Jiancong and his team in September 2007, the company now has a 140-strong workforce. The company has over RMB 7 billion in AUM. 

So far, Everest Venture Capital has invested in over 150 companies, with a focus on high-tech fields such as high-end equipment, new materials, bio-pharmaceuticals and the new generation of information technology.