On August 5, "Mengke Pharmaceutical," a portfolio company backed by sub-funds invested in through the master fund managed by Yuanhe Chenkun—specifically Junlian Capital and Detong Capital—officially listed on the STAR Market of the Shanghai Stock Exchange, with stock code: 688373.

Founded in 2007, Mencan Pharmaceutical is an innovative drug company centered on the treatment of infectious diseases. With globally independent intellectual property rights and international competitiveness, the company focuses on tackling the growing global issue of bacterial resistance. Its mission is to provide more effective and safer therapeutic options for the most common and severe antibiotic-resistant infections encountered in clinical practice. Notably, Mencan’s core R&D team has either led or played a key role in the development of several recently launched new anti-infective drugs.

Mengke Pharmaceutical has established R&D centers in both China and the United States, boasting an internationally renowned core R&D team and a robust product pipeline. Currently, the company has three core products that have either entered clinical or commercialization stages. As China’s first domestic innovator of oxazolidinone-class drugs, Mengke Pharmaceutical has disrupted the longstanding foreign-dominated market for high-end antibiotics in China with its pioneering launch of Conitazolamine—the country’s first domestically developed, original oxazolidinone antibiotic approved for commercial use. During the clinical trial process for this flagship product in China, the company implemented several groundbreaking initiatives, leveraging its unique strengths to strengthen the public health system. These efforts have laid a solid foundation for raising clinical trial standards and enhancing product quality in China’s innovative antimicrobial drug sector. Additionally, MRX-4, a water-soluble prodrug of Conitazolamine, has already kicked off a global, multi-center Phase III clinical trial designed to evaluate its sequential use alongside Conitazolamine. Meanwhile, MRX-8—a promising treatment targeting multidrug-resistant Gram-negative bacterial infections—is currently undergoing Phase I clinical trials in the U.S., having already secured IND approval in China.

In addition to the three product pipelines mentioned above, Mecogen Pharmaceuticals also has several preclinical-stage new drugs targeting drug-resistant bacteria, as well as pipelines focused on kidney cancer and nephritis treatments.

This IPO on the STAR Market enabled Allmed Pharmaceutical to raise a total of RMB 1.061 billion. After deducting issuance costs of RMB 101 million, the net proceeds came to RMB 960 million, which will be primarily allocated to innovative drug development projects, upgrades to marketing channels and academic promotion initiatives, as well as to bolster working capital.