# Novast Pharmaceuticals

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/novast-pharmaceuticals

- Industry: Pharmaceuticals
- Headquarters: Nantong, China
- Total disclosed funding: $78M
- Latest round: Series C (Jun 11, 2011)
- Investors on record: 5

## About

Founded in 2005 and based in Jiangsu, China, Novast Pharmaceuticals Ltd. is a multinational pharmaceutical R&D and manufacturing company specializing in the research and development of drug delivery systems and sustained-release formulations. Through collaborations with U.S. distributors and originator companies, it develops and manufactures generic drugs with sustained-release and other value-added formulations for sale in the U.S. pharmaceutical market. In January 2021, Novast Pharmaceuticals Ltd. raised CNY 400 million in venture funding led by returning investor HighLight Capital, with participation from another returning investor Shiyu Capital. The company develops and manufactures generic drugs for the European, American, and Chinese markets. Revenue is generated through production and sale of generic drugs mainly in the U.S. pharmaceutical market and other country.

## Funding rounds

- Series C, Jun 11, 2011, $2.9M — Qiming Venture Partners
- Series C, Jul 2, 2009, $25M — New Enterprise Associates, SAIF Partners, Qiming Venture Partners, Lilly Asia Ventures, BVCF Capital
- Series B, Oct 23, 2008, $50M — New Enterprise Associates, Qiming Venture Partners, Lilly Asia Ventures, BVCF Capital

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series B, Series C
- Qiming Venture Partners (https://capitalatlas.ai/funds/qiming-venture-partners) — Series B, Series C
- Lilly Asia Ventures (https://capitalatlas.ai/funds/lilly-asia-ventures) — Series B, Series C
- BVCF Capital — Series B, Series C
- SAIF Partners (https://capitalatlas.ai/funds/saif-partners) — Series C