SHANGHAI, China, July 10 At today's ceremony inHangzhou, China, Sundia MediTech Company was named one of the 50 bestcompanies for investment in China in 2008 by top venture capital investors.This is the second year in a row Sundia was voted into Venture 50, an annualevent organized by Zero2IPO, an advisory firm for China investment.
In 2004 Sundia was founded in Shanghai by a group of pharmaceuticalindustry veterans from North America. The company has provided integrated R&Doutsourcing services to biotech and pharmaceutical client companies worldwide.In the past 4 years, Sundia has grown into a top CRO company in China.
Sundia was recommended for the first time in 2007 to Venture 50 and ranked#16 among the finalists. This year, 150 candidates were selected from morethan 900 nominated companies, based on industry analysis of expectedinvestment return ratio. The final selection and ranking was done by a judgepanel of 51 VIP investors, representing top venture capital investmentcompanies such as IDG VC, AsiaVest, Intel, Sequoia, Legend, etc.
In July 2005, Sundia received its first VC investment fund from IDG VC.Last December, Sundia closed its second round of fundraising, with three newVCs (AisaVest, Japan Asia Investment, and PinPoint) and IDG VC. Since then,Sundia has executed a series of expansion plans, including adding high-qualityleaders to its management team, expanding into new service areas, constructinga new R&D Center and a new pilot plant for manufacturing active pharmaceuticalingredient.
Sundia and United PharmaTech, another CRO company in Shanghai, reached anagreement to merge with each other in June of last year. According to Dr.Xiongwei (Shawn) Shi, founder of United PharmaTech and now the Executive VP ofSundia, the merger was concluded successfully last November and the mergedcompany is running smoothly. The new pilot plant under construction is anextension of United PharmaTech's business line.
"We thank the venture investor community for voting Sundia into Venture 50again," said Sundia CEO Dr. Xiaochuan Wang, "This award marks another step ofSundia's growth."
Sundia MediTech Company
Sundia MediTech was founded in Shanghai in 2004 by a group of veterans ofthe US pharmaceutical industry to provide drug discovery and pharmaceuticaldevelopment CRO services to clients worldwide. Over the past 4 years, Sundiahas built a strong reputation in its field. Following a 2007 merger withneighbor United PharmaTech, Sundia looks forward to continuing its phenomenalgrowth rate.
Founded in 1999, Zero2IPO is a leading integrated service provider in theChina venture capital and private equity industry. Over the past seven years,Zero2IPO has become an unbeatable deal flow and networking source in China.Zero2IPO's mission is to be the preferred service provider to businesses inthe venture capital and private equity industry by offering an unparalleledknowledge and expertise to clients and partners. To ensure this, Zero2IPOprovides a broad and deep array of services enabling entrepreneurs andinvestors to reach the next level of success.
SOURCE Sundia MediTech Company