Zennova Pharma Group recently achieved a significant milestone by successfully completing a Series B fundraising round of nearly 100 million yuan. The funding was exclusively provided by Hengbao Holdings. The capital will be used to support the commercial production of the company’s flagship products, prepare for market entry, and invest in new product research and development.

Recognizing the importance of internationalization in China's pharmaceutical industry, Zennova Pharma aims to leverage Hengbao Holdings' overseas market channels and its own expertise in new drug development and formulation production. The partnership is expected to enhance the company's global competitiveness and integration into the pharmaceutical innovation and industry ecosystem.

Zennova Pharma Group focuses on eye care, antiviral treatments, cardiovascular diseases, and oncology. It operates with a "Made in China, Global R&D, and Global Markets" strategy, with research facilities in New York and New Jersey, as well as a specialized contract manufacturing plant in Chicago, USA. Zennova Pharma’s Chengdu site is a fully integrated international formulation center that includes research, manufacturing, and sales. The company takes pride in its two-decade dedication to LiquiPuls^TM, its proprietary technology platform for the development of new drugs.

The company's Founder, Chairman, and CEO, Dahai Guo, expressed gratitude for Hengbao Holdings' support and outlined the key priorities for 2023, which include advancing high-end drug research and production, importing high-barrier products, and filling domestic market gaps. He also stated that the ongoing electromechanical and equipment installation project at the company's Chengdu manufacturing is considered a pivotal milestone in the company's strategic development. Zennova Pharma, with the support of Hengbao Holdings and other shareholders, is devoted to making breakthroughs in the pharmaceutical industry, increasing its core competitiveness and exploring new paths for growth. The company aims to establish a three-pronged cash flow profitability model within the next three years: "R&D and production in the US & sales in the US; R&D and production in China & sales internationally; R&D and production in China & sales in China."

About Zennova Pharma

Since its establishment in 2018, Zennova Pharma Group has adopted a global approach, operating in both the Chinese and US markets. Product research and development primarily conducted in the US, with commercial production and marketing also starting there as the first step. Zennova Pharma (Chengdu) Co., Ltd., situated in Chengdu's Tianfu International Bio-Town, is on track to become a fully-fledged international formulation center. The completion of Phase One, covering 30,000 square meters, marks a significant achievement. Zennova Pharma aims to finish interior decoration and equipment installation by September and begin the technical transfer of FDA-approved drugs in the fourth quarter. Products manufactured at this center meet the strict international quality standards set by the US FDA, EU EMA, and China's regulations. Over the next three years, Zennova Pharma envisions the sale of multiple drugs in the Chinese, US, and international markets.

Revolve around its core values "Innovation for Better Medicine", the company aims to excel in both FDA-compliant high-level product development and international-standard high-quality product manufacturing, contributing to the internationalization of China's pharmaceutical industry and advancing healthcare.