On August 24, 2020 Sihuan Pharma reported its innovative drug subsidiary, Xuanzhu Biopharma, completed a $116 million Series A round financing from SDIC (Press release, XuanZhu Pharma, AUG 24, 2020, View Source [SID1234564024]). SDIC will own 18.6% of Xuanzhu, which is valued at $624 million. Sihuan said Xuanzhu is differentiated from other startups by having complete drug R&D capability along with the parent company’s production and commercialization support. The company has two candidates in late-stage trials: birociclib, a CDK4/6 inhibitor for advanced breast cancer and janagliflozin, an SGLT2 inhibitor for diabetes.

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