Huisheng Biology, a subsidiary of the Sihuan Pharmaceutical Holdings Group, has raised CNY 500 million in a Series A Round led by China Life Private Equity Investment Company Limited, Grand Flight Investment, Yuanyi Jimao Equity Investment, and Ginko Global.
HuiSheng Biology, according to Fengsheng Che, chairman of Sihuan Pharmaceutical Holdings Group, is China's only pharmaceutical company with products that target diabetes and all its complications. The inesvtor's wide approval of Huisheng's R&D and commercialization strength, as well as Huisheng's pipline coverage and market potential, has been demonstrated by the completion of the Series A round funding.
The funds will be used to meet the company's operating needs, facilitate the development of clinical trials for progress, purchase equipment, and increase liquidity.
The prevalence of diabetes has risen in recent years. Sihuan Pharmaceutical Holdings Group founded HuiSheng Biology in 2014 to address the challenge of finding a cure and the billion-dollar diabetes market demand. HuiSheng Biology focuses on the treatment of diabetes and complications. HuiSheng Biology has now developed over 40 products, including second, third, and fourth-generation insulin, and novel drugs like SGLT-2, GLP-1, DPP-4, as well as hypoglycemic agents treatments for diabetic complications.