China-based Zhejiang Jiuzhou Pharmaceutical Co., Ltd (SHA: 603456) has received approval from the China Securities Regulatory Commission (CSRC) to conduct a private placement of 70 million shares. The company plans to raise RMB 2.5 billion (USD 350 million) through this transaction, with proceeds allocated towards the Phase 1 construction of a contract development and manufacturing organization (CDMO) base in Taizhou, raw material CDMO construction in Suzhou, and supplementary working capital.
Company Background
Founded in 1998, Jiuzhou Pharma is a leading provider of one-stop, high-quality services spanning the entire pharmaceutical industry chain, from pre-clinical CMC, clinical trials, and NDA to product listing. The company operates research and development (R&D) centers in Hangzhou and Taizhou in Zhejiang Province, Nanjing in Jiangsu Province, and North Carolina in the United States. Additionally, Jiuzhou Pharma has manufacturing bases in Zhejiang and Jiangsu provinces, supporting its comprehensive service offerings.
Expansion Plans
The funds raised through the private placement will significantly bolster Jiuzhou Pharma’s CDMO capabilities, enhancing its position as a key player in the global pharmaceutical market. The expansion projects in Taizhou and Suzhou are expected to boost the company’s production capacity and efficiency, while the additional working capital will support ongoing operations and strategic initiatives.-Fineline Info & Tech
