Synermore completed the new round of fund-raising with one hundred and ninety-nine million RMB capital increase
Synermore Biologics Co. Ltd., announced completion of cash replenishment case in May 10, 2016, the capital increase reached to one hundred and ninety-nine million RMB yuan (about US$6.16 million). Since its establishment in 2013, the company has successfully raised more than eight hundred and eighty million yuan (about 28.84 million US dollars).
The funds raised this time will be used for the clinical trials of anti-rabies virus and biologics drug candidates for colorectal cancer, head and neck cancer. It will also be used for R & D to discovery innovative drugs and/or biosimilars, and carry out clinical studies. The remaining funds will be used for company operation.
Synermore CEO Dr. Eric Tsao said: "it is very happy to see many investors have confidence with Synermore’s future. We are ready to apply for stock listing in Taiwan. Both clinical program procedures and clinical trials are conducted worldwide as planned. On schedule to advance clinical progresses demonstrates our capability and value. We are focusing on China and international market by developing of innovative monoclonal antibody drugs and biosimilars to treat cancer, autoimmune diseases and infectious diseases. We strive to produce those drugs in GMP commercial production in future. "