Anhui-based biopharmaceutical company HastenPharma(海森生物) raised USD 315 million in funding on April 20, with the financing round aimed at focusing on future mergers and acquisitions and product innovation, according to EqualOcean.
HastenPharma is an innovative biopharmaceutical company jointly established by CBC group(康桥资本), Hefei Industry Investment Group(合肥产投集团), and Feidong County Government in Hefei(合肥肥东县政府). It integrates research and development, production, and commercial promotion, with its business covering the entire industry chain. With the support of its controlling shareholder, CBC group, the largest healthcare private equity fund in Asia operating a global healthcare platform, HastenPharma is gradually making efforts to develop products and pipelines in the fields of chronic and elderly-related diseases.
While rooted in China, HastenPharma is also committed to expanding its global market. By implementing the "full industry" and "globalization" strategies, the company has successfully connected upstream and downstream industry chains and strengthened its product structure and pipeline in chronic and elderly-related disease management through diversified means and CBC group's global healthcare platform and resources.
Following the acquisition of Takeda Pharmaceuticals' five cardiovascular and metabolism drugs, HastenPharma currently owns the supply chain and proprietary rights of Yaningding, Yidabi, Biluos, Beixin, and Aiketuo in China. HastenPharma currently has a total of six offices in China and abroad, with a commercial team of over 700 people covering more than one million chronic disease patients. In the second to fourth quarters of 2022, HastenPharma's sales increased by 47%.
According to a report by market research company Grand View Research, the global biopharmaceutical market is expected to reach USD 578.6 billion in 2028, nearly double the USD 316 billion in 2021. Among them, the Chinese biopharmaceutical market has surpassed USD 37 billion, becoming the second-largest biopharmaceutical market in the world, second only to the United States. The biopharmaceutical market has broad prospects.
As a traditional technology-intensive and capital-intensive industry, the biopharmaceutical industry is filled with giants, including well-known companies such as Johnson & Johnson, Roche Holding, Novartis, Pfizer, Abbott, Sanofi, Merck, Celgene, AstraZeneca. At the same time, some emerging biopharmaceutical companies are also rapidly rising, including Wuxi Biologics（药明生物）, Uni-Bio Science Group（联康生物）, and Pharmaron（康龙化成）, which are considered as star companies that are growing rapidly.
The funding round was led by CBC group and Mubadala Investment, with participation from other institutional investors.The funding for HastenPharma will be used for future mergers and acquisitions and innovative product pipelines.
At this critical stage, the ESG2023 "the US Sub-Forum" will be held in Shenzhen on June 2, 2023. EqualOcean will invite the representatives of academic institutions and investment institutions, as well as company leaders, from the International Studies Institute of Fudan University, Sun Yat-sen University, Jinan University School of International Relations, Gaorong Capital, Vision Plus Capital, FreeS Fund, ZWC Partners, Source Code Capital, Niu Technologies, TikTok, SHEIN, NEIWAI, miHoYo, Tuya, MINISO, Dreame, Ecovacs, WYBOTICS, Lifen, and UniUni.EqualOcean analysts will also release the US Report 2023 at the US Sub-Forum, summarizing business opportunities and best practices for expanding into the US market in the new stage. Click the link to apply and scan the QR code below to learn more about ESG2023.