On May 16, 2020, Sanyou Biopharmaceuticals (Shanghai) Co., Ltd. announced the completion of Series A financing of RMB tens of millions jointly by the medical platform under Haier Financial Holding (Haier Medical) and Shanghai ZJ Bio-Tech Technology Co., Ltd. (ZJ Bio-Tech). This financing will be used to upgrade the large-capacity library of phage display antibodies, improve the service platforms e.g. innovative antibody drug discovery and preclinical process R&D, and to promote the preclinical study of anti-tumor antibody drugs through cooperation with customers.

Founded in 2015, Sanyou Biopharmaceuticals is a leading international high-tech biotechnology company focusing on R&D and providing integrated solutions for innovative antibody drug developments. It has established an integrated R&D laboratory of innovative antibody drugs with thousands of square meters, with advanced facilities and complete capabilities in "Shanghai Caohejing National Hi-Tech Park", and has core technology platforms e.g. innovative antibody drug discovery, antibody engineering modification, in vitro and in vivo efficacy screening, druggability analysis of antibody drugs, construction of production cell line, production process development, etc. and several internationally leading "sub-trillion antibody libraries". Based on the business model of "innovative antibody drug seed project links global collaborative R&D of new drugs", it conducts business through incubation of projects, provision of services and development of reagents to help customers accelerate the R&D and marketing of drugs. As of March 2020,it has established extensive cooperative relationships with more than 100 domestic leading innovative pharmaceutical companies, transforming traditional pharmaceutical giants, emerging biotechnology companies, and well-known research institutions, and has started to serve international customers e.g. American pharmaceutical enterprises and R&D institutions. So far, it has completed hundreds of antibody screening projects, hundreds of antibody engineering modification projects, and dozens of innovative antibody drug discovery projects. The overall representative projects include the fully human monoclonal antibody, humanized antibody, single domain antibody, bispecific antibody and antibody drug conjugate (ADC) against CLDN18.2, PD-L1, CD47 and other targets. 

Dr. Lang Guojun, founder and CEO of Sanyou Biopharmaceuticals, said: "Since its establishment in 2015, Sanyou Biopharmaceuticals has been focussing on building an international leading high-quality and high-throughput R&D platform for innovative antibody drugs with the mission of "to help customers with our antibody drug discovery and development platforms" and the vision of "to improve people's quality of life by use of innovative antibody drugs", fully assisting customers in developing innovative antibody drugs urgently needed by patients. This financing will significantly boost the construction of the characteristic antibody library platform, consolidation of the integration advantages of the integrated drug discovery platform, and improvement of the ability of the preclinical platform of the company. In addition, this financing is of great significance for expanding the breadth, depth and height of cooperation between the company and various customers and partners, improving the service quality and enhancing the brand influence of the company. 

I would like to express our sincere thanks to Haier Medical and ZJ Bio-Tech! Haier is a well-known enterprise with a 35-year entrepreneurial history.  It is a great honor and recognition to receive such financial support from Haier Medical under Haier. ZJ Bio-Tech is the angel round investment institution of the company, and its capital increase represents its great trust in us. We will cherish such support and trust, and continue to uphold the spirit of "excellence and innovation, target and goal, effort and endeavor, and patients-centered healthcare and benefit", and to work together with customers, employees and shareholders to create greater value for the world." 

Mr. Ni Xiaowei, CEO of Haier Medical, said: "As the fourth generation of tumor treatment method after surgery, radiotherapy and chemotherapy, the antibody drug has become one of the fastest-growing fields in the biopharmaceutical industry. With deep roots in innovative antibody drug R&D and service for many years, Sanyou Biopharmaceuticals has an integrated antibody drug R&D technology platform, linking global collaborative R&D of new drugs through innovative antibody drug seed projects. Sanyou Biopharmaceuticals follows the strategic layout direction for Great Health of Haier and is very happy to be the investor of this round of financing. We will work with other shareholders to help Sanyou Biopharmaceuticals to achieve further development and growth. In the future, Haier Medical will also actively explore cooperation with Sanyou Biopharmaceuticals in comprehensive treatment of tumors, to bring better treatment regimens to patients." 

Dr Shao Junbin, Chairman and General Manager of ZJ Bio-Tech, said: "ZJ Bio-Tech is one of China's leading manufacturers of molecular diagnostic reagents. We are optimistic about the application of antibody drugs in the treatment of tumors, autoimmune diseases, and even infectious diseases. As a shareholder who has invested in Sanyou Biopharmaceuticals since 2016, we recognize Sanyou Biopharmaceutical management team’s focus and passion for innovative biotechnology and drug development, as well as the bilateral, multi-dimensional cooperation in the automatic platform application, SARS-CoV-2 test, treatment, etc. In addition, we are committed to work with all shareholders and Sanyou Biopharmaceuticals to achieve the goal of precise immunotherapy by adhering to the belief of long-term industrial investment."