Synermore’s Cash replenishment of eight trillion and seventy-nine million NT yuan (about 27 million 600 thousand USD) re in place
In a full speed for product development with Suzhou construction plan and international layout
Synermore announced in December 16, 2016 to complete the A round of cash capital increase, the fund-raising amount reached about eight trillion and seventy-nine million (US$27 million 600 thousand), the investors are B&D Capital, CDIB Capital, China-Canada Investment, LianXun Securities, Delta-China Investment etc. professional investment institutions. Since its incorporation in 2013, the company has successfully raised more than one billion seven hundred and sixty million yuan (about 56 million 440 thousand dollars).
The raised funds will be used for the clinical trials to ensure the progress. It will also be used for Synermore Life Sciences (Beijing) Co. Ltd., and Shenzhen Long Rui Pharmaceutical Co. Ltd and as setting up Synermore Biologics (Suzhou) Co. Ltd in Suzhou, such as registration and a contraction of GMP commercial production facility, according to the business plan。
With the company on cross-strait in both Taiwan and Mainland, and focusing on global pharmaceutical markets, Synermore Taiwan headquarter leads the overall operation and clinical research, those two parts consist innovation development which needs the highest proportion of the investment, according to newest development results， Synermore Life Sciences (Beijing) Co. Ltd will be carried out process development，design, develop and complete small scale process of cell culture, protein purification, formulation optimization and biochemical analysis for amplified production later. After the completion of the development process, the technology was transferred to the GMP factory of Shenzhen Long Rui Pharmaceutical Co., Ltd. for the production which will be used for toxicology study and human clinical trials.
A new company with a process development center and production center will be set in in Suzhou in 2017, including commercial production facility, middle size production lines, CMC laboratory etc. It is mainly for the development and production of Synermore own products. It is expected to start construction in 2017, and complete it in the end of December 2017. The trial production is planned for 2018 to produce SYN023 anti-rabies monoclonal antibody production for its clinical phase III. SYN008 monoclonal antibody, a treatment of asthma medication, will enter clinical phase III as estimated in 2019. Once the completion of phase III and get approval, it will begin its commercial production in Suzhou.