Haixi New Drug
Dual-focus pharmaceutical developer of generics and innovative drugs.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | N/A | Series A | |
| Total Funding | 000k | ||
Fujian Haixi New Drug Creation Co., Ltd. is a commercial-stage pharmaceutical company operating with a dual-focus strategy on both generic and innovative drugs. Founded in Fuzhou in March 2012 by Dr. Xinshan Kang and his spouse, Ms. Feng Yan, the company utilizes an asset-light Market Authorization Holder (MAH) model, outsourcing manufacturing to focus on research, development, and commercialization. Dr. Kang has over two decades of experience in the pharmaceutical industry, holding a Ph.D. in chemistry from Princeton University and having worked at institutions like the University of California, San Francisco, and PTC Therapeutics. Ms. Yan has over 12 years of experience in the sector, with a background that includes roles at McMaster University and Yale University School of Medicine.
The company's business model, described as "generic drugs to fuel innovation," leverages revenue from its commercialized generic drugs to fund the development of a pipeline of new chemical entities. Haixi New Drug focuses on developing first-to-market, complex, and high-quality generics across several key therapeutic areas, including digestive system, cardiovascular, endocrine, nervous system, and inflammatory diseases. As of late 2024, the company had 14 generic drugs approved for sale by China's NMPA, with several included in national and provincial volume-based procurement (VBP) programs, which has significantly driven revenue growth. The company's sales and distribution network is extensive, reaching over 18,000 hospitals and 22,000 pharmacies across China.
In parallel, Haixi New Drug is advancing a pipeline of self-developed innovative small-molecule drugs targeting areas with significant unmet medical needs and global market potential, such as oncology, ophthalmology, and respiratory diseases. Its lead innovative candidate, C019199, is a multi-targeted kinase inhibitor for various cancers and is undergoing Phase I/II clinical trials. The company has recently been making efforts to list on the Hong Kong Stock Exchange to secure further funding for its R&D activities, enhance commercialization capabilities, and expand production capacity.
Keywords: pharmaceutical, generic drugs, innovative drugs, Market Authorization Holder (MAH), small-molecule drugs, oncology, clinical trials, drug development, volume-based procurement, first-to-market generics, cardiovascular diseases, digestive system diseases, endocrine system diseases, kinase inhibitor, C019199, Xinshan Kang, asset-light pharmaceutical, drug commercialization, China NMPA, Hong Kong IPO
