Sinotau Pharmaceutical Group announced in a document on Thursday that it has completed a D+ round of financing worth 320 million yuan ($50.03 million). This round of financing featured joint investment by China Life Equity Investment Co., Ltd. and Centurium Capital, both of which are new investors. Existing shareholders Tianjin Panya Equity Investment Fund Partnership (L.P.) and DeYi Capital Management Co., Ltd. also contributed. The financing is helped and supported by WinX Capital. The funds raised are for clinical R&D of new radioactive drugs.
Previously, in February 2021, the company completed its D round of financing, which was led by CICC Kai Tak, followed by a series of institutions and the original institutional shareholder Hetang Venture Capital. In less than one and a half years since April 2020, the company has continuously completed financing totaling about 1 billion yuan.
The firm’s official website shows Sinotau Pharmaceutical Group was founded in 2005, and focuses on the R&D, production and clinical application of a new generation of radiopharmaceuticals. It is intensively engaged in cultivating the integrated product line of radioactive targeted diagnosis and treatment. Headquartered in Beijing, the group has established modern radiopharmaceutical production bases in the Chinese provinces of Jiangsu, Guangdong and Sichuan, as well as branches in the US.
Sinotau Pharmaceutical Group has taken the lead in deploying a variety of targeted therapy and accurate diagnosis radiopharmaceuticals across the fields of cancer, neurodegenerative diseases and cardiovascular diseases. Its independent R&D team brings strong capabilities in this area. At present, its product line has made arrangements in many radioactive diagnostic and therapeutic products, and some products are under clinical research stage.
With the targeted clinical application of radioisotopes in recent years, the global radiopharmaceutical market has reportedly grown rapidly, reaching $7.1 billion in 2020, and is expected to register $26 billion in 2030. The radiopharmaceutical market in China will also usher in vigorous development as the country publishes programmatic industry documents, radiopharmaceuticals are applied in MAH system and nuclear medicine equipment configuration certificates are open.