At the annual meeting of the Qingke Venture Capital, Xu Xiaolin, the founder of Huagai Capital, who had led the investment in Fuhong Hanlin, said with a smile: "In the cold winter, if you don't show your face in the activities of Zero2IPO, others will think that you are frozen." Coincidentally, Yuan Chenghong, a partner of Nuocheng Jianhua, a capital partner of CCB, also said in public that domestic biomedical investment has entered a period of cyclical platform.
The cold winter has already accompanied the four seasons in 2018.
Bizhi's arsenic, my honey, Suqiao Bio (hereinafter referred to as "Suqiao") can be described as full of pots in 2018. In January 2018, Suqiao announced the completion of the $38 million Series A financing; in April of the same year, Suqiao completed 34 million US dollars of round-round financing.
It is worth pondering that Suqiao is the second company invested since the establishment of the Biomedical Industrial Park (BioBAY). The first one is Cinda Biotech, which was listed on the Hong Kong Stock Exchange in October 2018. Dr. Hu Xiaofang, the managing director of the B-round leader Fang Chende Capital, believes that Suqiao has produced synergies in the overall layout of BioBAY's biopharmaceutical industry.
Behind the intensive gold absorption is the support of Suqiao’s rapidly expanding business landscape. In June 2017, Suqiao was registered in Suzhou Biomedical Industrial Park; in August of the same year, Suqiao began construction; in January of the following year, Suqiao opened its doors.
Since its establishment, Suqiao has signed a bio-pharmaceutical foundry project with a contract value of more than 100 million yuan, and has entered the club for 100 million yuan at a speed of 3 times that of its peers. It has set a record for the speed of CDMO orders for biopharmaceuticals.
The founder, Mr. Liang Qibin, used “unprecedented†to summarize the achievements of Suqiao in the past year. How does Suqiao get the favor of capital against the trend? And why is it achieving remarkable rapid development? Recently, the arterial network visited Suqiao in BioBAY, Suzhou.
Domestic leading one-stop biopharmaceutical CDMO
Mr. Liang Qibin told reporters that Suqiao’s vision is to become a CDMO century-old store like Lonza. The written statement of this vision is “to become a world-leading, highly integrated, one-stop CDMO service platform for biomedical resources, providing customers with quality services and a strong clinical phase and commercial production capacity.â€
Forerunner Lonza has been polished for 100 years before becoming one of the top players in the industry. With capital assistance, Suqiao has a much higher starting point than Lonza.
At present, Suqiao's GMP plant has a GMP production line, purification line and GMP injection line of 50L/200L/500L/1000L/2000L reactor scale, which can be used for clinical pharmaceutical companies in Phase I, Phase II and Phase III. CDMO services for the production of biopharmaceuticals. By 2019, Suqiao’s market share will be able to enter the top three in the country.
Specifically, Suqiao's services include a full range of services for domestic and foreign biopharmaceutical R&D companies from cell line establishment, process development, test method research and development, GMP production to domestic and international declarations.
In terms of quality control, Suqiao strictly complies with the quality standards of international and domestic pharmaceutical production management regulations, including China Food and Drug Administration (NMPA), US Food and Drug Administration (21 CFR), European Medicines Agency (Eudralex), and WHO. , PIC/S and ICH standards. In the early days of development, Suqiao's service focus was to provide pre-clinical and clinical (human experimental phase I/II/III) products to Chinese and international clients.
Su Bridge, which decided to take the international road at the beginning of its establishment, has opened an overseas business department in Hong Kong and Basel to achieve international deployment of world-class monoclonal antibody and biologics custom development and production services. Basel is the headquarters of Lonza, the global leader in biopharmaceutical CDMO, founded in 1897.
In addition, Suqiao has established cooperation mechanisms with three overseas companies to introduce mature advanced technologies involving molecular formula and cell line development.
According to Mr. Liang Qibin, Suqiao focused on the market of monoclonal antibody, bispecific monoclonal antibody and coupled drug. For the commercialization needs of Fangxing's future research on immunotherapy such as CAR-T and gene therapy, Suqiao has begun to establish a targeted talent reserve.
At this stage, because the commercialization path is still unclear and the quality control bottleneck is difficult to break through, most of the immunotherapy is a risky biomedical technology for the commercial platform. Mr. Liang Qibin said that although Suqiao will spare no effort to seize the new track, it will not allow drugs to enter Suqiao's business system until the gap between scientific research results and commercial production has been completely smoothed. Steady development is the established policy of Suqiao.
Mr. Liang Qibin is a veteran of the CDMO industry in biopharmaceuticals. In the past 20 years, he has held senior positions in a number of domestic and international biopharmaceutical CDMO companies, and accumulated rich experience in biopharmaceutical practice. At the same time, Mr. Liang Qibin concluded that the biomedical CDMO has been able to make a long-term success in the industry. "I saw Many biomedical CDMOs have become weaker and stronger, and I have found that technology is the foundation. Although there is no breakthrough innovation in CDMO, it is an industry with strict standards and access technical barriers, and experienced talents. The quality of service recognized by the team and the customer is the core competitiveness of the company."
In conversations with Mr. Liang Qibin, the arterial network found that the rapid development of Suqiao is not a passive source of water. As Hawking said, “Now there is no more than the past, and the results already exist in the cause.â€
4 sticks behind the "Suqiao Speed"
Strict IP protection, safeguarding the right of entrusted pharmaceutical companies to “dig gold minesâ€
The strict IP protection of the customer's intellectual property rights is the discipline of the iron bridge in Suqiao. At present, the intellectual property awareness of some CDMOs in China is still weak, and IP protection has become the biggest competitive advantage of Suqiao. "We only provide services and do pure CDMO." Mr. Liang Qibin used the purchase of iron shovel to compare the role of CDMO in drug development and production. The gold mine excavated with iron shovel is a special right of the drug company, because the latter undertakes research and development. Almost all risks.
In the business model, it does not involve autonomous new drug business at all, and it is one of Suqiao's IP protection iron laws. The technical threshold of production process patents in the bio-pharmaceutical field is often insufficient to eliminate imitation. Once a patent is leaked, the new drug independently developed by the drug company faces the risk of being robbed by competitors, directly affecting the market share allocation in the commercialization stage. CDMO and pharmaceutical companies are closely cooperating, which is the soft underbelly of patent protection for pharmaceutical companies.
Suqiao's IP protection iron law is to solidify data protection into the business process from start to finish. Suqiao relies on advanced information technology to establish a comprehensive customer IP protection system, including comprehensive data network, storage and backup systems, and remote self-control office systems to ensure the best protection of customer intellectual property.
In addition, in order to ensure the integrity of R&D and production data, customer data security and GMP compliance, Suqiao invested nearly RMB 20 million to build an advanced information technology platform to optimize operations and ensure that every R&D and production process is updated in real time. The data. At present, Suqiao has integrated the Laboratory Information Management System (LIMS), Warehouse Management System (WMS), and Enterprise Resource Management (ERP) into the information technology platform.
The technical team has completed more than 100 projects
Suqiao’s second core competitive advantage is its strong team and experienced experience. Suqiao's top management has experience in CDMO, and most of the senior executives have worked abroad for more than 20 years, mainly engaged in biomedical related work, and all employees have experience in biopharmaceuticals. The Suqiao team has a total of more than 100 projects and more than 40 target research projects, and completed a total of 40 bioinnovation drug IND declarations in China, the United States and Australia.
Dr. Hu Xiaofang pointed out that the rapid development of Suqiao is in line with the current vigorous development of China's bio-pharmaceutical industry, and on the other hand is the embodiment of the Suqiao team's execution.
Mr. Liang Qibin believes that talent is the most important factor in the development of a company. Domestic biopharmaceutical talents have a broken age structure, and the strong and strong people need to be introduced from abroad. In the delicate transition period of talent allocation, it is necessary to let local talents and imported talents form an old and new pattern in the development of enterprises. In addition to a perfect salary system, a unique corporate culture is needed.
Su Qiao promotes full shareholding. Mr. Liang Qibin appreciates Zheshang’s business philosophy of fair distribution of profits from stakeholders. He advocates multi-win and wins for stable and long-term development.
Different from simply using high salaries to attract talents, Suqiao uses talents to influence talents in corporate culture, and gradually builds a team of capable talents to form a dynamic talent precipitation process. In Suqiao's corporate culture, Mr. Liang Qibin strongly emphasized the consensus. In addition to profitability, the team's shared vision is to use their knowledge and experience to enable patients to use good medicine as soon as possible. "We hope to make CDMO bigger and stronger. It’s a clean stream in the country. If you stick to it for a long time, you will naturally make a lot of money.â€
Strong customer service awareness and reasonable price
In the whole process of service, Suqiao hopes to convey the concept of mutual help and cooperation and progress, instead of using the technical blind zone under the fine division of labor to earn extra profits from customers. Mr. Liang Qibin emphasized that a CDMO that can survive for a long time in the market will inevitably have money to make money for everyone. Committed to the establishment of long-term strategic relationships, Suqiao has a strong customer service philosophy, so as to meet the needs of customers as far as possible. Suqiao will flexibly mobilize production capacity, provide customers with commercialized services for the first time, and complete orders on time and in volume. In addition, for the details of the written contract, Suqiao will judge from the perspective of customer benefits, but the charging model has a higher cost performance.
Mr. Liang Qibin believes that at this stage, biopharmaceutical CDMOs cannot take advantage of technology to create a significant advantage in customer demand, and the biopharmaceutical CDMO, which has advantages in IP protection, team experience, service awareness and cost performance, will be in the market. Strong competitiveness.
At the end of the interview, Mr. Liang Qibin told the Arterial Network that Suqiao will gradually transfer more energy to foreign countries in the future, and through the competition of quality, price and service, will obtain a certain seat in the international market. To this end, Suqiao's commercial structure is divided into two, including based in Suzhou, the Ministry of Domestic Business Development in Greater China, and the Overseas Business Development Department based on local resources.
Just as a few decades ago, Lonza, Patheon, Catalent and other international biopharmaceutical CDMO giants completed the enclosure through mergers and acquisitions. The layout of Suqiao in overseas markets will also be realized mainly through capital. According to Mr. Liang Qibin, Suqiao will look for potential acquisition targets in appropriate locations in the world, such as the United States, Europe, Asia and other areas where biomedicine is developed.
Li Kechun, a partner of Yuanming Investment, once said that it is now the most fun period for Chinese biomedical entrepreneurs. In fact, the same is true for Suqiao.
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