On 28th November 2022, ZSHK Laboratories Limited (ZSHK) announces its completion of nearly ￥100 million series B financing. Such series of financing was led by AZ-CICC Healthcare Fund and followed by existing shareholders—Ascendum Capital. Such funds will be mainly used to promote necessary key resources to enhance pharmaceutical innovation/medical device preclinical evaluation and the development layout of Hong Kong and international business.

ZSHK Laboratories Limited is a biopharmaceutical pre-clinical research and development service company (“Preclinical CRO”) mainly engaged in pre-clinical research and evaluation services for drugs and medical devices. A one-stop evaluation and research service platform, it provides services including pharmacology, pharmacodynamics, pharmacokinetics, toxicology and other safety-related studies for pharmaceutical developers and researchers worldwide. ZSHK has established independent laboratories in Hong Kong Science and Technology Park, Pingshan District of Shenzhen, Guangdong Province, and Suzhou Industrial Park of Suzhou, Jiangsu Province.

Biopharmaceutical industry of China develops rapidly with the drive of pharmaceutical innovation. In last 5 years, the number of first submission of clinical trials has increased by 10 times. Preclinical research and safety evaluation service have offered a crucial foundation to the huge amount of entry of pharmaceutical innovations to the stage of clinical trials. However, preclinical safety evaluation services could only be carried out in professional GLP laboratories due to entry barriers. Respective qualifications are in a high level of difficulty and requires long examination period. Experienced professional team becomes a scarce resource to preclinical CRO industry.

ZSHK possesses one-stop evaluation and research service platform and experienced business team of the area under the “organization system”, core members include experienced toxicology research scientists, pharmacologists, immunology and experimental animal technical professionals, pathologists qualified by the CAP, as well as experienced quality assurance, facility construction and management team and a variety of experienced scientists from relevant areas.

Dr. Li Ming—Establisher and CEO of ZSHK denotes that: “The mode of new drug R&D of China is switching from imitation to innovation. CRO enterprises of China would participate in biopharmaceutical innovation R&D and translation more often and earlier. As far as preclinical CRO enterprises are concerned, this is challenge and development opportunity at the same time. ZSHK will continue to explore R&D service modes that better suits the development trend of biopharmaceutical industry of China, exploit the company’s advantages of having multi-located laboratories in the Greater Bay Area. Elevating the company’s scientific and technical ability and team service ability needed for new drug preclinical R&D to better promote the pipeline development of pharmaceutical innovation and R&D enterprises. At the same time, offering one-stop service to the national and international declaration of original R&D outcomes to the company’s clients, becoming the most valuable R&D partner of pharmaceutical innovation enterprises.

Mr. Chen Bing—Managing Director of AZ-CICC Healthcare Fund, Vice President of AstraZeneca China, head of Strategic Cooperation and Business Development Department denotes that:” With the rise of pharmaceutical innovation industry of our country, the development prospect of preclinical CRO services is highly bright. The importance of CRO to drug and medical device in terms of its function in empowering and basic supporting has. been commonly noticed by R&D enterprises, investment agencies and local governments. ZSHK possesses an integrated full-process declaration service platform that meets international standards, experienced scientists and excellent management team. Having GLP-level laboratories covering many places in the Mainland and Hong Kong has also enhanced the company’s unique advantage. We will fully allocate the resources of AstraZeneca around the globe to empower the company’s future development.”

Mr. Shan Jun Bao—Chairman of China Capital Investment Group (CICC), Assigned Managing Partner of AZ-CICC Healthcare Fund denotes that: “Preclinical research evaluation organization plays a key role in basic research outcome translation. In these 20 years, core team members of ZSHK have been collaborating closely with national top tertiary education institutions, scientific research organizations, top pharmaceutical innovation R&D enterprises and well-known pharmaceutical enterprises to accumulate rich industrial experience. We believe that one-stop CRO service platforms which have scientific ability like ZSHK are able to satisfy the needs of research enterprises at different stages and aspects, and support the accelerating development of China’s pharmaceutical innovation industry.

Dr. Shao Ying—Establisher of Ascendum Capital denotes that: “Preclinical R&D service organizations will be playing a more and more crucial role in terms of the mode adjustment and the process of development of biopharmaceutical innovation of China. The “one-stop” preclinical R&D service of ZSHK will play its strong role of promoting the development of biopharmaceutical innovation  of the Greater Bay Area, and become the empowerer of Hong Kong’s high ground knowledge, talents and technology. Ascendum Capital will continue to increase investment  on the construction of preclinical R&D innovation ability and elements to promote the further development of  biopharmaceutical innovation of the Greater Bay Area and China.

About AZ-CICC Healthcare Fund
AZ-CICC Healthcare Fund is launched under the collaboration between AstraZeneca and CICC. The fund focuses on raising private funds for healthcare industry investments, and seeks to support domestic innovative biopharmaceutical and other healthcare industry companies, as well as international biotech companies looking to establish a substantial presence in China through combining AZ’s global industrial advantages and CICC’s rich capital operation experience. The fund focuses on investment areas include biopharmaceutical, medical devices, diagnostic services, digital health etc., commits to gather financing resources, offers bilateral and full-period empowerment to enterprises and investment partners, assists China healthcare industry in innovation development collaboratively.

About Ascendum Capital
Established in 2020, Ascendum Capital is a healthcare-focused investment firm. The firm focuses on investing innovative medical devices, biopharmaceutical and relevant technologies. The team was built collaboratively by experienced professionals from medical and investment areas to promote the development of healthcare industry. The firm is committed to searching for innovative healthcare products and technologies around the globe and assisting China market in product development and launching . The firm hopes to become an effective promoter of innovative medical products and companies.