Sundia MediTech (Shanghai) Company, one of the fast growing clinical research organizations (CRO) in China was named one of the 50 best companies for investment in China by the top venture capital investors. Sundia ranked #16 of Venture 50, an event organized by Zero2IPO, an advisory firm for China investment. Sundia was the only company in the final list of Top 50 companies from the pharmaceutical industry.
At a ceremony in Beijing, Zero2IPO presented its annual Venture 50 list of the 50 best Chinese startups. Zero2IPO's rankings are often a herald of success for the companies listed. Following the unveiling of last year's list, 32 percent of the listed companies received venture capital financing or went for IPOs within four months.
Sundia has received a round of Venture Capital financing from IDG VC in July 2005, and is now in the process of soliciting a second round. Following its merger with United PharmaTech, Sundia is now kicking off a major expansion of its facilities, including the construction of an API cGMP pilot plant.
According to Dr Tang Ming, COO, Sundia MediTech (Shanghai) Company, last year Sundia's revenue jumped five times over the year before; and in the first half of this year, the company's revenue has surpassed the revenue of the whole year 2006.
Dr Xiaochuan Wang, CEO, Sundia MediTech said, "We are honored to have been chosen as one of China's top ventures. This award represents recognition of our team, our business model, and our strategy. It will help us to further improve the quality and range of services we provide our customers."