On December 4, Boji Pharmaceutical announced that its subsidiary, Tibet Boji Investment Management Co., Ltd. will invest 10 million yuan to establish Guangzhou Huayao Hengda Chuangfu Venture Capital Partnership with other five companies. set). The other five companies are Guangzhou Fundao Asset Management Co., Ltd., Guangdong Huanan New Drug Creation Co., Ltd., Guangdong Huanan New Drug Creation Center, Zhuhai Hengqin New District Hengtou Venture Capital Co., Ltd. and Daan Jinkong Holding Group Co., Ltd.

Guangzhou Huayao Hengda Chuangfu Venture Capital Partnership will be established in Guangzhou with a registered capital of 80 million yuan, of which: Boji Investment will invest 10 million yuan with its own funds, accounting for 12.50% of the total investment; Huayao Limited With its own funds, it will contribute 15 million yuan, accounting for 18.75% of the total capital contribution; Huayao Center will invest 5 million yuan with its own funds, accounting for 6.25% of the total capital contribution; Hengtou Venture Capital will fund its own funds. 20 million yuan, accounting for 25.00% of the total investment; Daan Jin control invested 13 million yuan with its own funds, accounting for 16.25% of the total investment; interesting channel management with its own funds to invest 17 million yuan, It accounts for 21.25% of the total investment. After the establishment of the company, it will focus on the major health industry targets such as drug research and development, generic drugs, medical services, and medical devices.

According to the announcement, the purpose of Boji Medicine's participation in this investment is to accelerate its industrial layout through industrial investment. In addition, while pursuing the optimization of investment income, this also reserves high-quality projects for the follow-up development of Boji Medicine, constantly improving the industrial chain and improving the comprehensive service capability.

Boji Medicine was established on September 29, 2002 and listed on the Shenzhen Stock Exchange on April 24, 2015. The legal representative is Wang Yanchun. The company's main business covers all stages of new drug research and development, including clinical research services, pre-clinical research services, technical results transformation services, other consulting services and pre-clinical independent research and development.

This is not the first time that Boji Medicine has participated in the equity investment fund. In May 2016, its wholly-owned subsidiary Boji Investment and Wuming Innovation jointly launched the establishment of a new pharmaceutical industry investment fund with a fund size of 300 million yuan. The key investment direction of the new drug industry investment fund is the new drug cultivation and research and development projects before the listing, including the rights of Class 1 and Class 2 new drugs or the equity of new drug research and development enterprises at various stages such as preclinical research, clinical trials, and approval of listing.

In January 2017, Boji Investment, a wholly-owned subsidiary of Boji Pharmaceutical, and Shenzhen Qianhai Yuntai Equity Investment Fund Management Co., Ltd. jointly established a fund management company to establish a medical health industry fund. The fund management company has a registered capital of 5 million yuan, and Boji Investment intends to invest no more than 51%.

In November 2017, Boji Medicine invested 40 million yuan to establish a joint venture company with Shenzhen Jiadao Gongcheng Equity Investment Fund. The purpose of the establishment of the joint venture company is mainly to invest in the development of Class 1 new drug projects or other new drug projects as drug marketing license holders. When a new drug needs to be entrusted to CRO for research, under the same conditions, Boji Medicine will be given priority to conduct research.

However, it is worth noting that compared with previous investment funds, the investment direction of this established investment fund is no longer limited to the pharmaceutical industry, but also extends to large health industries such as medical services and medical devices.

The expansion of the investment field has much to do with the changes in the pharmaceutical industry environment in recent years. On December 3, Wang Tingchun, founder, chairman and general manager of Boji Pharmaceuticals, said at the Pharmaceutical Capital Forum hosted by the Daily Economic News that with the introduction of medical policies such as “consistency evaluation” and “two-vote system”, The CRO industry has been greatly affected.

This can also be seen in Boji Pharmaceutical's 2017 annual report. In 2017, Boji Pharmaceutical's operating income reached 131 million yuan, an increase of 81.22%; but the net profit attributable to shareholders of listed companies was minus 24.49 million yuan. It was down 1273.34% year-on-year.

New policies such as consistency evaluation will be a new reshuffle for the pharmaceutical industry, but for the clinical trials of lenient and strict, Wang Tingchun said that this will be more conducive to companies seeking professional CRO companies, the spring of the CRO industry is coming.

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