(VCBeat) May. 6, 2021 -- Shanghai RuiYi Medical Tech Co., Ltd. ("Ruiyi Medical"), a Chinese company focused on medical organosilicon products, announced that it has closed its private placement of tens of millions, led by Huaige Capital, with participation from Hongbo Capital. According to Ruiyi Medical, this private placement will further enhance the company's financial strength to accelerate scale expansion and business development, and improve its overall competitiveness."
Ruiyi Medical was founded in May, 2006 and composed of Ruiyi Shanghai and Ruiyi Haimen. It is a high-tech company that focuses on manufacturing and R&D outsourcing services of new-type medical organosilicon intermediates, reagents for organic synthesis and pharmaceutical raw material intermediates. Ruiyi Medical is a leading company in the R&D and production of medical organosilicon products in China, meanwhile, it is also the main supplier in the global market of medical organosilicon products.
With a number of special technologies, Ruiyi Medical has developed a number of first-of-its-kind reagents and molecular building blocks of new drugs in China. Its star products have been exclusively supplied to a number of large international pharmaceutical enterprises for a long time, and it has maintained long-term close cooperation with well-known domestic and foreign drug R&D enterprises. After years of development, Ruiyi Medical has grown into a CDMO serving well-known pharmaceutical companies at home and abroad, providing key intermediates and functional molecular building blocks in clinical I, II and III stages and commercialization.
About Huaige Capital
Founded in 2016 by Mr. Kai Wang. Huaige Capital is a Shanghai-headquartered venture capital focusing on the healthcare sector (medical devices, innovative drugs, biologics, outsourcing services, etc.), and preferably invest at early or growth stage. They foster "active investment" as well as "in-depth value-added services" as their principal strategy, and aim to be a boutique venture capital within the healthcare sector. In line with the spirit of "integration and specialization", the company is committed to creating greater value for both its investors and its portfolio companies.
About Hongbo Capital
Hongbo Capital is a private equity investment fund manager jointly established by state-owned financial institutions and investment banks. The company is committed to providing investment and financing, industrial integration, strategic management and other financial services for its portfolio.