Paige Bio completes financing to advance the development of innovative drug pipelines for chronic diseases

Paige Biopharmaceuticals (Suzhou) Co., Ltd. (hereinafter referred to as "Paige Bio") recently announced the completion of nearly 800 million yuan of pre-IPO round financing, led by Yunfeng Fund, PCCW Capital and Taifu Capital and other institutions, by the former jellyfish fund, Yuansheng Ventures, Zhongxin Capital and Yuanfeng Capital and other well-known institutions at home and abroad. The financing will be mainly used to promote the company's global clinical research on a number of products, independent research and development and product introduction and cooperation. At present, Paige Bio has started preparations for the listing of the Tablet.Dr. Min Xu, founder and CEO of Paige Bio, said, "Thank you very much for the trust and support of old and new investment institutions for Paige! Since its inception in 2008, the company has been committed to building a biopharmaceutical company in the field of chronic diseases. With the advantages of the company's technology platform and the efforts of our team, we have developed a range of competitively advantaged preferred compounds for the treatment of different chronic disease adaptations. This covers a number of metabolic and gastrointestinal diseases with high incidence rates at home and globally, with the ultimate hope of controlling and improving cardiovascular and related complications. The company's existing products have entered different stages of clinical research, of which the core products have been carried out clinical Phase III research. This financing and the development of the company's clinical phase products form a perfect match. I believe that this financing can give full play to the company's clinical project promotion, platform technology development and product research and development advantages, for the company's next step in the development of a solid foundation," said Dr. Huang Qi, executive director of theYunfeng Fund. Paige Bio is the leading domestic biotechnology company focused on the development of new drugs for chronic diseases, and has a number of clinical stage products, we are very optimistic about the company's layout and advantages in the field of the disease. Yunfeng Fund will continue to help Paige in the field of new drugs in chronic disease expansion and development, we believe that under dr. Xu's leadership, the company relies on professional research and development team and strong innovation ability, and with Yunfeng's empowerment, further broaden the business perspective, the future can bring quality products to society, benefit the vast number of chronic disease patients. Qian Mingfei, Chairman ofPCCW Capital, said, "As a biopharmaceutical company in the field of chronic diseases, Paige's bio-research and development team continues to focus on core product development, creating a unique competitive advantage in the field of research and development of new drugs for chronic diseases. The strategic investment in Paige Bio is an important step for PCCW Capital to lay out the industry segment leader in the field of biopharmaceuticals. Biomedicine and medical health have always been important components of PCCW's capital investment map. In the future, PCCW Capital will also continue to play its own resource advantages and industrial energy, in terms of capital, technology, market and other aspects to give Paige biological all-round support to help accelerate the development of new drugs for chronic diseases. Jiang Xiangren, founding partner ofTaifu Capital, said: "Paige has built a research and development pipeline covering diabetes, chronic liver disease, gout, cardiovascular disease and other fields for many years, and the fastest-growing products will be declared on the market in the near future. We are excited to be involved in investing in companies like Paige that aim to innovate and clinically fail to meet demand, and we look forward to seeing Paige's products go on sale for the benefit of chronically ill people in China. Theabout the "Yunfeng Fund Yunfeng Fund was established in 2010 and is a private equity fund co-sponsored by Alibaba Group founder Jack Ma and Juju Media founder Yu Feng. The most important gene of yunfeng fund is entrepreneurship. Over the past decade, Yunfeng Fund has supported and accompanied more than 160 invested companies in the fields of technology, consumer and health care. Yunfeng Fund in recent years in the field of expertise continued to re-position head enterprises, on behalf of investment projects including Ali Health, Lancang Technology, Ningde Era, Pharmaceutical Mingkangde, Bohai International, VIPKID, Aikang Guobin, NetEase Cloud Music, Ant Group and other well-known enterprises.About "PCCW Capital"PCCW Innovation Asset Management Co., Ltd. ("PCCW Capital") was established in 2010, ranked among the top 12 Chinese venture capital institutions, the company to "discover the strength of the economy forward" for the purpose of focusing on the layout of core assets, asset management scale of nearly 50 billion yuan, the company entrusted to manage more than 90% of the funds from financial institutions, state-owned enterprises and listed companies and other institutional investors. PCCW Capital pays attention to the layout of the whole industrial chain, the cumulative investment industry leading enterprises more than 200, the company has laid out hai and biology, Kanghua biology, Sanyou Medical, Jiahe biology and other nearly 60 biopharmaceutical enterprises with core technology, has formed a highly collaborative biopharmaceutical industry ecosystem.About "Taifu Capital"Capital was established in November 2013. Focus on venture capital in the life sciences, focusing on promising early and long-term businesses. Through a diversified, strategic layout, select high-quality partners, and effectively integrate industry resources, to provide quality post-investment services to help the company grow rapidly. The company has invested in more than 30 biotechnology, new drug development, medical services and medical device companies. (Paige Bio's official website)