SHANGHAI, China, July 10 /Xinhua-PRNewswire/ -- At today's ceremony in Hangzhou, China, Sundia MediTech Company was named one of the 50 best companies for investment in China in 2008 by top venture capital investors. This is the second year in a row Sundia was voted into Venture 50, an annual event organized by Zero2IPO, an advisory firm for China investment.
In 2004 Sundia was founded in Shanghai by a group of pharmaceutical industry veterans from North America. The company has provided integrated R&D outsourcing services to biotech and pharmaceutical client companies worldwide. In the past 4 years, Sundia has grown into a top CRO company in China.
Sundia was recommended for the first time in 2007 to Venture 50 and ranked #16 among the finalists. This year, 150 candidates were selected from more than 900 nominated companies, based on industry analysis of expected investment return ratio. The final selection and ranking was done by a judge panel of 51 VIP investors, representing top venture capital investment companies such as IDG VC, AsiaVest, Intel, Sequoia, Legend, etc.
In July 2005, Sundia received its first VC investment fund from IDG VC. Last December, Sundia closed its second round of fundraising, with three new VCs (AisaVest, Japan Asia Investment, and PinPoint) and IDG VC. Since then, Sundia has executed a series of expansion plans, including adding high-quality leaders to its management team, expanding into new service areas, constructing a new R&D Center and a new pilot plant for manufacturing active pharmaceutical ingredient.
Sundia and United PharmaTech, another CRO company in Shanghai, reached an agreement to merge with each other in June of last year. According to Dr. Xiongwei (Shawn) Shi, founder of United PharmaTech and now the Executive VP of Sundia, the merger was concluded successfully last November and the merged company is running smoothly. The new pilot plant under construction is an extension of United PharmaTech's business line.
"We thank the venture investor community for voting Sundia into Venture 50 again," said Sundia CEO Dr. Xiaochuan Wang, "This award marks another step of Sundia's growth."
Sundia MediTech Company
Sundia MediTech was founded in Shanghai in 2004 by a group of veterans of the US pharmaceutical industry to provide drug discovery and pharmaceutical development CRO services to clients worldwide. Over the past 4 years, Sundia has built a strong reputation in its field. Following a 2007 merger with neighbor United PharmaTech, Sundia looks forward to continuing its phenomenal growth rate.
Zero2IPO
Founded in 1999, Zero2IPO is a leading integrated service provider in the China venture capital and private equity industry. Over the past seven years, Zero2IPO has become an unbeatable deal flow and networking source in China. Zero2IPO's mission is to be the preferred service provider to businesses in the venture capital and private equity industry by offering an unparalleled knowledge and expertise to clients and partners. To ensure this, Zero2IPO provides a broad and deep array of services enabling entrepreneurs and investors to reach the next level of success.
SOURCE Sundia MediTech Company
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