Technology Author:Yuan Zhuang Jul 25, 2023 09:27 AM (GMT+8)

Zennova Pharma Group (诺峰药业集团) recently announced the completion of nearly CNY 100 million in Series B financing.

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Zennova is a high-tech multinational pharmaceutical group registered in Cayman and driven by innovative R&D. The company takes Chinese manufacturing, global R&D, and global market as its three strategic priorities, and focuses on four major therapeutic areas: ophthalmology, virus, cardiovascular, and tumor.

Since its establishment in 2018, Zennova has always adhered to a global vision. At present, the main work of the company's product research and development is completed by the American Zennova, and the commercial batch production and marketing will be realized in the United States first.

According to data from MordorIntelligence, the biopharmaceutical market is worth approximately USD 401.32 billion in 2021 and is expected to generate USD 534.19 billion in revenue in 2027, with a compound annual growth rate of 7.32% during the 2022-2027 forecast period. The market is primarily driven by the growing geriatric population, rising chronic diseases, and increasing acceptance and huge market demand for biopharmaceuticals.

Zennova currently has corresponding R&D and production bases in New York, New Jersey, and Chengdu, China. Among them, the pharmaceutical base located in Chengdu will pass the US FDA, EU EMA, and China GMP certification in the future, reaching the international advanced quality level, and produce full-dose drugs that meet European and American quality and biological consistency, including a variety of anti-tumor drugs, sterile eye drops, central nervous system drugs, and other prescription drugs. The products are sold in China and the global market.

In addition to Zennova, several companies are competing in the pharmaceuticals market. Representative Chinese companies include Hengrui (恒瑞医药), Sino Biopharmaceutical (中国生物制药), Shanghai Pharmaceuticals (上海医药), and CSPC (石药集团). Internationally, Pfizer and AbbVie in the United States, Novartis and Roche in Switzerland, AstraZeneca in the United Kingdom, and Sanofi in France are all quite powerful.

This round of financing for Zennova was exclusively invested by Hengbao Holdings (恒保控股). This round of financing will be used for commercial batch production of the company's blockbuster products, market launch preparations, and new product research and development.