On July 25, "Yifang Bio," an investee company of Eli Lilly Asia Fund—a sub-fund backed by the mother fund managed by Yuanhe Chukun—officially listed on the STAR Market of the Shanghai Stock Exchange, with stock code: 688382.

Founded in 2013, Yifang Biotechnology was co-founded by Dr. Wang Yaolin and several other PhDs. Its core R&D team boasts an impressive average of over 20 years of experience leading new drug development and managing teams at global pharmaceutical companies. As of the end of 2021, the company had a total of 140 R&D personnel, accounting for 90.32% of its workforce. Leveraging its robust R&D capabilities, Yifang Biotechnology continues to enhance the success rate of its pipeline products and shorten drug development timelines—particularly in areas such as precise target screening, drug molecule design, pharmacology and translational medicine, chemical synthesis processes, formulation development, and clinical trial protocol design and execution. Moreover, the company’s sustained commitment to technological innovation has yielded remarkable scientific achievements: by the end of the first quarter of 2022, Yifang Biotechnology had secured a total of 37 authorized patents both within China and internationally.

As of June 23, 2022, Yifang Bio’s product pipeline includes 3 core products in clinical trials and 5 preclinical research projects. All 3 core products have already received approval to advance into Phase II or Phase III clinical trials, placing the company at the forefront of development progress. According to the company’s prospectus, Yifang Bio’s core products are primarily focused on major disease areas such as oncology and metabolic disorders—and all were developed entirely through the company’s own R&D efforts.

This time, Yifang Biotech raised a total of 2.084 billion yuan through its listing on the STAR Market. After deducting issuance costs of 102 million yuan, the net proceeds amounted to 1.982 billion yuan, which will be primarily allocated to new drug development projects and the construction of its headquarters base.