Sihuan Pharmaceutical Invests in Phase I Fund of Ascendum Capital Life Technology to Expand its Strategy in Development of Innovative Drugs
HONG KONG, Oct. 20, 2020 /PRNewswire/ -- On 20 October 2020, Sihuan Pharmaceutical Holdings Group Ltd. (HKEX: 0460 "Sihuan Pharmaceutical" or the "Company", together with its subsidiaries, the "Group") announced that its participation in the investment of Phase I Fund of Ascendum Capital Life Technology. The Company looks forward to expand its resources in the development of innovative drugs and accelerate the introduction of overseas innovative drugs in China, strengthen the its resources and development of its international product pipeline and accelerate its product innovation and internationalization. Sihuan Pharmaceutical's investment and participation in the fund provides valuable support for Ascendum Capital's future development of medical devices and biopharmaceuticals. This cooperation allows both parties to share resources in a timely manner as it creates a win-win situation.
Sihuan Pharmaceutical was established in 2001. After nearly 20 years pursuing research and development, the company has grown into a large listed pharmaceutical enterprise with an integrated R&D, production and sales system. It is one of the largest suppliers of cardiovascular and cerebrovascular prescription drugs in China. Currently, Sihuan Pharmaceutical's R&D product pipeline has a total of 80 therapeutics, including innovative drugs with small molecule targets (14 items), biologic drugs with huge market potential (13 items), and generic drugs with high technical barriers (53 items).
In the R&D pipeline, Sihuan Pharmaceutical's drug portfolio targets major therapeutic areas, including oncology, metabolism, chronic diseases, neuropsychiatric, digestive diseases, anti-infectives, and cardiovascular and cerebrovascular diseases. More than 10 drugs have entered phase III clinical trial or are in the approved production stage. Sihuan Pharmaceutical has a high-quality pre-clinical R&D team of nearly 200 people, including a number of senior scientists with extensive industry experience in internationally renowned pharmaceutical enterprises. The company also has a 200-person clinical development team, which includes more than 70 doctors, masters and overseas returnees. The company features strong research and development capabilities.
Currently, Sihuan Pharmaceutical has a global business development center in the United States that focuses on developing first-in-class oncology, diabetes therapeutics as well as other therapeutic areas with huge clinical needs. The Company also employs international experts to expand and manage business projects in China and abroad. These international experts support Sihuan Pharmaceutical's global business and accelerate the introduction and deployment of international projects.
In early 2014, Sihuan Pharmaceuticals established a partnership with South Korea's leading medical aesthetics manufacturer Hugel and codeveloped botulinum toxin and filler products, which will contribute to new business growth. The botulinum toxin product is expected to receive approval before the end of this year, making it the first and only South Korean botulinum toxin product to be approved in China, Sihuan will act as the sole agent for this product.
Sihuan Pharmaceutical has a professional marketing team with nearly 1,000 people, partnering with more than 3,000 distributors. The Company's sales network covers 14,460 hospitals, nearly 7,500 are secondary and tertiary hospitals, and has 100% coverage rate in the provinces. The Sihuan Pharmaceutical's sales staff are very professional with the majority of them holding a medical master's degree or above. The strong sales system is a great benefit to the Company's future expansion of new products and internationalization.
Sihuan Pharmaceutical has a clear long-term strategic development goal, which is aimed to be an innovation inspired, international pharmaceutical enterprise equipped with technology. The company focuses on the cerebrovascular, oncology diabetes, and aesthetic medicine segments. It has an independent leading research and development technology platform, rich global product pipeline and mature and excellent sales system. The investment in Ascendum Capital Life Technology Investment Fund is part of the Company's strategy to expand innovation in new opportunities and develop internationally.
Ascendum Capital Life Technology Investment Fund is a cutting-edge medical investment fund established in July 2020, mainly focusing on the medical and life technology industry. Ms. Shao Ying (former well-known healthcare analyst at Credit Suisse), founder and core managing partner of the Fund, has formed a professional team with extensive industry investment experience and excellent global operation capabilities.
As the Fund's manager, Ascendum Capital has a network of experts and doctors around the world with strong connections with global pharmaceutical industry giants and potential buyers and can assist Sihuan Pharmaceutical to expand its discovery and introduction of high-quality products. The fund has many international limited partners that provide not only strong financial support, broad and rich source of high-quality international projects, but also unique industrial value-added services to assist invested companies to enhance their value, receive drug registration approval, to advance clinical trial processes and to improve their business operation capabilities.
Ascendum Capital believes that the fund will expand in the medical technology industry, specifically in medical devices and biopharmaceuticals. It intends to introduce foreign advanced technology and products in China to accelerate their research and development and commercialization. It also intends to promote the research and development of products with independent intellectual property rights in China, cultivate and integrate more industry-leading innovative medical device companies, strengthen the integration of the industry and capital, enhance the integrated competitiveness of innovative medical companies, and promote the development of China's healthcare industry.
Ascendum Capital has strong knowledge of Sihuan Pharmaceutical's business and development needs as well as a full understanding of the management and Sihuan Pharmaceutical's founders' requirements and expectations. With Sihuan Pharmaceutical's participation, both parties can share project resources more effectively, and expand Sihuan Pharmaceutical's investment team's resources while creating a win-win cooperation for both parties.
Sihuan Pharmaceutical participated in the investment of Ascendum Capital. Ascendum Capital has excellent investment resources and flexible exit strategies, and is expected to provide Sihuan Pharmaceutical with excellent investment returns. Additionally, Sihuan Pharmaceutical can obtain first-hand funding and project support by cooperating with top fund managers.
Dr. Che Fengsheng, Chairman and Executive Director of Sihuan Pharmaceutical Holdings Group commented, "The investment in Ascendum Capital is in line with the Group's goal of promoting and achieving the Company's strategic transformation through investment. Sihuan Pharmaceutical consistently pursues product innovation, research and development as well as cultivation of high-quality manufacturing enterprises, supplemented with investment, mergers, incubation, holding and spin-offs, to generate a number of independently operated subsidiaries, and help them enter the capital market and enhance the parent company's value-added."
With management's unique strategic vision, Sihuan Pharmaceutical is able to pursue the strategy of "innovation-driven, imitation and creation co-exist". Sihuan Pharmaceutical's subsidiaries are also cooperating together at all levels to promote the transformation of Sihuan Pharmaceutical from a traditional pharmaceutical company into a comprehensive pharmaceutical group, creating the new path to internationalization.
About Sihuan Pharmaceutical Holdings Group Ltd.
Founded in 2001, Sihuan Pharmaceutical Holdings Group Ltd. ("Sihuan Pharmaceutical" or the "Company"), together with its subsidiaries (the "Group") is a pharmaceutical group with integrated research and development ("R&D"), production and marketing and sales capabilities. It is one of the largest suppliers of cardio-cerebral vascular ("CCV") prescription drugs in China. Sihuan Pharmaceutical has an excellent and professional marketing model, a nationwide distribution network, a diversified product portfolio with great market potential, as well as strong R&D capability. The Group continues to increase investment in R&D every year. Because of the continuing efforts over the past decade, Sihuan Pharmaceutical has a R&D platform with over 1,000 researchers conducting more than 110 pharmaceutical research projects. More than 300 patents on innovative drugs have been granted and over 80 of them are overseas patent. The Group's current pipeline projects cover key therapeutic areas including diabetes, oncology, anti-infectives and non-alcoholic steatohepatitis, etc.
For more information about Sihuan Pharmaceutical, please visit the company website https://www.sihuanpharm.com/.
SOURCE Sihuan Pharmaceutical Holdings Group Ltd.