EN | 中文
Novast Completed Nearly One Billion RMB Private Equity Financing
May 9, 2020
On 9th May 2020, Novast Holdings Ltd. announced the completion of a private equity financing of nearly RMB 1 billion. The transaction was completed by Legend Capital in conjunction with Shiyu Capital, Xiamen C&D, Service Trade Fund, Honghui Capital and Highsino. Huaxing Capital served as the exclusive financial advisor for this transaction.

Novast was founded in 2005 in Nantong, Jiangsu by Dr. Zhang Guohua and his technical management team. The team members include scientists and engineers from China, the United States, Canada and India, and they have extensive management and technical experience in the global pharmaceutical industry. Since its establishment, the company has been focusing on the research and product development of drug delivery systems and sustained & controlled drug release systems. The team members have successfully developed more than 180 new drugs and generic drug formulations for the global pharmaceutical industry during their careers. From the very beginning, the company emphasized the concept that quality comes from design. It has passed the cGMP (Current Good Manufacturing Practice) review of the US FDA (Food and Drug Administration) for five consecutive times with zero defects, and has a production line that meets China, EU and US standards. Novast has plants in Nantong with production capacity of over 4 billion oral controlled-release preparations and over 1 billion oral hormone preparations, providing high-quality medicines to patients around the world.

Source: https://vcbeat.top/ZTAyYjc1NjdkOWQyMTk4MTIxNTRlZTAzMDk3ZWUxZDU=