On May 9, Highbioway Pharmaceutical Co., Ltd. ("Highbioway"), an enterprise in Tianfu Life Science Park, declared that it reaped tens of millions of yuan in angel financing from "Sichuan Venture Capital", an agency under the flag of Sichuan Industrial Revitalization Fund Group, and a key strategic partner “Xiamen Yiyuan”. The financing will be used to purchase instrument and equipment, hardware facilities, and earlier inputs for laboratory decoration, and project implementation. It is worth mentioning that during this round of angel financing, Highbioway was much supported by multiple funds and strategic partners, and secured capital support for later stages while determining the angel investment.

According to the responsible person of "Sichuan Venture Capital", "The core team of Highbioway has unique strategic vision, rich R&D experience, reasonable enterprise development plan, competitive projects, and a business model integrating R&D and market. All these are the basis for "Sichuan Venture Capital" to invest in Highbioway together with other industrial capitals."

"In the future, Highbioway will respond to the development trend of China's biomedicine industry, take holistic approach to integrate various competitive resources, and seek all-round, multi-tiered cooperation with strategic partners, aiming to grow into a new-type medicine company featuring advanced concept, strategy, and technology," said Dr. Li Yingfu, Chairman of Highbioway.

In March 2019, Highbioway settled down in Tianfu Life Science Park in Chengdu Hi-tech Zone. It mainly engages in medicine R&D, production, sales, and technical service outsourcing, and is committed to shaping a world-leading R&D platform for innovative micromolecule medicine, a R&D platform for high-end bulk drug, and a generic drug R&D platform with high technology as barrier. Since its inception, its founder Dr. Li Yingfu clearly defined its corporate strategic planning in new medicine R&D, namely "technology service + high-end imitation + innovative imitation + independent innovation", and three development directions:

First, the company will use rich experience in innovative drug R&D and advanced concepts in this aspect, make sustained efforts in innovative drug R&D, and be dedicated to world-leading innovative drug R&D;

The company will engage in strategic cooperation in the R&D of technically-demanding generic drugs, and shape independent R&D capability in a short time;

The company will shape a R&D and sales platform for high-end, sophisticated crude drug.

Led by Dr. Li Yingfu, all members of the founding team are specially invited high-end talents of Sichuan Province and Chengdu City, who have rich experience of R&D and industrialization in innovative drug, generic drug, CRO (Contract Research Organization), and other fields. The excellent team has tapped into its rich R&D experience and influence in the industry accumulated over the years, and secured five-plus contracts of high-end bulk drug and preparation R&D and sales in the preparations for the establishment of Highbioway. Therefore, the newly-established Highbioway is capable of independent development, which is very commendable. Besides, different from traditional CRO model, namely passively finishing the experiment and research projects commissioned by clients, the business model of Highbioway is based on its powerful R&D capability. The company is pro-active in seeking for clients with demands for the R&D of innovative drug and quality generic drug, and offer overall solutions for them. Besides income from technical services, Highbioway can also reap handsome sales profit sharing.

The completion of "Sichuan Venture Capital"-led angel financing is of great significance to Highbioway. This round of financing will boost Highbioway in developing Type-I new drug with global intellectual property rights, and make the company well-poised to expand R&D team, purchase top-notch R&D equipment, improve working environment for staff, enhance its domestic and international visibility, attract various outstanding talents in drug R&D, expand the size of the company, and establish overall presence in R&D pipeline. Meanwhile, the successful financing has also boosted employee morale, enhanced their sense of honor, and strengthened their confidence in the company's future.