Lvzhu finished its Series C funding round, marking its success of gaining three funding rounds within 12 months. Its exploration of listing in Hong Kong Stock Exchange marks the company's potential, as supported by CICC.
Beijing Lvzhu Biopharmaceutical Co., Ltd. announced its completion of Series C funding round. The detailed funding amount has not been published yet. Investors include Huapu Haihe Biomedical Fund, Yizhuang Biomedical Fund, Xinyin Zhenhua, and others. As investors by these well-known biomedical funds, we predicted the huge potential of Lvzhu in the future.
This is also the third large funding round of Lvzhu within 12 months. In Auguest 2021, Lvzhu successfully raised CNY 350 million of Series B funding round, led by CCB International, and followed by Tiger Pharmaceuticals and Livzon Pharmaceutical. In January 2022, Lvzhu successfully raised CNY 120 million of Series B+ round, invested by Xuanhong Fund, Mingfeng Capital, New Era Capital, Mingsheng Capital and others. All of these funding rounds were large-sized and invested by well-known companies.
Also, Lvzhu submitted a listing application to the Hong Kong Stock Exchange on June 28, 2022. Its sole sponsor is CICC, implying its high percentage of success. As released by China Securities Regulatory Commission on June 20, 2022, Lvzhu was in the progress of Overseas Initial Public Offering of Shares Approval. And at that time, Lvzhu had reached the stage of colleting materials. There is no confirmation of whether Lvzhu would be successfully listed in Hong Kong Stock Exchange. And we are waiting for the future notice from them.
As mentioned by Saisheng Pharmaceutical on May 30, 2022, Lvzhu, as the joint-stock company, has been conducting a Phase II clinical trial of recombinant herpes zoster vaccine project. The project is mainly working on the development towards CHO cell. The main purpose of this project is to prevent herpes zoster in adults. If Lvzhu could successfully completed its project, this project could lead Lvzhu to a higher stage.