Xi Venture Capital collaborates with leading enterprise Zhaoyan New Drug to establish a biopharmaceutical industry and fund

　　On February 6th, the sixth meeting of the fourth board of directors of Beijing Zhaoyan New Drug Research Center Co., Ltd. (referred to as "Zhaoyan New Drug") announced that Zhaoyan New Drug intends to sign a partnership agreement with Wuxi Guolian Industrial Investment Private Fund Management Co., Ltd., Beijing Hongru Heyu Investment Management Co., Ltd., Wuxi Innovation Investment Group Co., Ltd. (referred to as "Xichuang Capital"), and Jiangsu Yuanli Industrial Investment Co., Ltd. to jointly invest in the establishment of Wuxi Jinyifu New Biomedical Venture Capital Partnership Enterprise (Limited Partnership) (tentative name). The total subscribed capital of the fund is 1 billion yuan, and the fund mainly invests in the fields of biomedicine, life sciences, major unmet clinical needs and innovative breakthrough technologies, medical devices, CRO (Contract Research Organization) and other life and health fields.

　　Wuxi State owned Assets and Industry Leader Zhaoyan New Drug jointly initiated the establishment of a biopharmaceutical industry fund with an initial scale of 1 billion yuan and a target total scale of 5 billion yuan, bringing Zhaoyan and its upstream and downstream enterprises into Huishan District, Wuxi, and striving to build Wuxi into an important national base. This is another important layout for Wuxi Venture Capital's investment in the biopharmaceutical field. In the future, Wuxi will form an iron triangle drug research and development industry combination of 'Binhu District+WuXi AppTec', 'Xinwu District+AstraZeneca', and 'Huishan District+Zhaoyan New Drug'. This also means that Wuxi will gather important leading enterprises in the biopharmaceutical service chain and have a complete ecosystem for the development of biopharmaceutical enterprises．

　　As a leading enterprise in the field of preclinical safety evaluation in China, Zhaoyan New Drugs has chosen to invest in the biopharmaceutical fund managed by Xicheng Venture Capital. This is not only due to the excellent achievements of Xicheng Venture Capital in deeply cultivating biopharmaceutical investment, but more importantly, due to the promising development prospects of Wuxi's biopharmaceutical industry. As one of the four landmark industries created by the "465" modern industrial cluster in Wuxi, the scale of biopharmaceuticals in the city will exceed 200 billion yuan in 2023. Wuxi has also been listed as one of the top 20 cities in the national biopharmaceutical development for two consecutive years.

　　Xi Venture Capital is a state-owned venture capital institution that integrates seed, angel, entrepreneurship, equity, mergers and acquisitions, and S funds. The company has established a fund system covering the entire life cycle of enterprises, managing a total fund size of over 240 billion yuan, and providing comprehensive support to enterprises that are in line with their development stages. Xi Venture Capital has currently established a specialized and diversified biopharmaceutical investment team, with layouts in innovative drugs, biotechnology, medical devices, and other fields. It has invested in enterprises with leading domestic technology advantages in multiple sub fields such as Jianshi Medical, Jushu Biotechnology, Ruiyue Biotechnology, and Xiantong Pharmaceutical, contributing to the strengthening, supplementing, and extending of the biopharmaceutical industry chain in Wuxi.