Micro needle drug delivery platform Zhongke Microneedle closes Pre A round

Zhongke Microneedle, a well-known enterprise in the industry in China, has completed Pre-A financing round, raising tens of millions of yuan (including equity and debt). The investor is Chongqing Zhongke Yinghui Fund. The proceeds will be used for R&D investment, production line acceleration, and market expansion, etc.

Zhongke Microneedle, a well-known enterprise in the industry in China, has completed Pre-A financing round, raising tens of millions of yuan (including equity and debt). The investor is Chongqing Zhongke Yinghui Fund. The proceeds will be used for R&D investment, production line acceleration, and market expansion, etc.

In 2018, Zhongke Microneedle secured an angel round of financing of tens of millions of yuan from the Chinese Academy of Sciences Venture Capital and CAS Star. The funding was the company’s second round of financing.

The core of Zhongke Microneedle’s product technology is the array microneedle patch, which can penetrate the stratum corneum painlessly, open the transdermal channel, and realize the percutaneous release of active ingredients. This technology combines the advantages of traditional injection and transdermal drug delivery technologies and is a disruptive technology in the field of pharmaceutical formulation.

Notably, Zhongke Microneedle established a wholly-owned subsidiary in Chongqing in October 2019. Most of the proceeds from the fresh funding will be used for the production line construction of the subsidiary.

It is planned to build four production lines in Chongqing. By then, the production capacity of its Chongqing subsidiary will reach 200 million pieces per year.

Per the financial report released by Zhongke Microneedle, the company’s revenue in 2019 exceeded one million yuan, and its sales revenue is expected to exceed 100 million yuan in 2020.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/04/26/micro-needle-drug-delivery-platform-zhongke-microneedle-closes-pre-a-round/.

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