Bostal Drug Delivery Co., Ltd. (“Bostal”) recently has announced the completion of a Series B2 funding of hundred millions CNY.
Bostal is a high-tech enterprise with an advanced drug-releasing system. Based on enhancement of the solubility of poorly soluble drugs, oral sustained release technology, oral immediate release technology, injection sustained release technology, and other technologies. Bostal is committed to the research and industrial development of innovative and generic drugs, providing clients with professional services such as clinical data, experimental reports, pharmacological analysis, etc.
According to Bostal, it has vigorously developed complex injections and oral anticoagulants 505(b)(2), achieving multiple milestone developments; some products are about to be declared for IND or have entered the clinical research stage. 505(b)(2) can be clinically used for stroke, which can significantly reduce the risk of stroke and reduce the occurrence of intracranial hemorrhage after stroke, thereby reducing mortality.
According to Grand View Research, the global controlled release drug delivery market size is worth USD 49.46 billion in 2022 and is expected to grow at a compound annual growth rate of 10.6 % from 2023 to 2030. This growth is driven by the growing prevalence of chronic diseases, increasing technological advancements, increasing adoption of self-administration and government initiatives.
In addition to Bostal, many companies are competing in the controlled release drug delivery market, such as Sinotherapeutics (宣泰医药), HD Biosciences (辉源生物), Health Nice (海纳医药), Lifeon Pharmaceutic (立方制药), TWi (安成国际药业) in China, Johnson and Johnson, Orbis Biosciences, Merck, Corium, Pfizer in the United States, and Alkermes in Ireland.
Rong Liu, founder of Bostal, stated: “Bostal will continue to improve the construction of its GMP production line for formulations through this round of financing, accelerate the development of high-end formulation research and development pipelines, and strive to promote the industrialization of more independently developed 505 (b) (2) products and complex injections as soon as possible. To bring more convenient, long-lasting, and clinically valuable drugs to patients, strive to become a leader in innovative formulations, and build Bostal into an international first-class pharmaceutical group. “
This round of financing for Bostal was invested by GVCGC(粤科金融集团), CY Investment (创钰投资), BOC&GFIH (粤财中垠), Yimi Venture Capital (蚁米基金), Wanlian Securities (万联广生), Wanlian Tianze (万联天泽), October Capital (十月资本), Causal Investment (广州因果投资), Knowledge City (知识城创投), and Panyu Industry Investment (番禺产投). This round of financing funds will mainly be used to accelerate the development and industrialization of high-end formulation research and development pipelines such as 505(b)(2) innovative drugs and complex long-acting sustained-release formulations.