# Novast

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

- Industry: Pharmaceuticals
- Headquarters: Nantong, China
- Website: www.novast.cn
- Total disclosed funding: $166M
- Latest round: Series E (May 9, 2020)
- Investors on record: 10

## About

Established in 2005 and based in Nantong, China,  Nantong Lianya Pharmaceutical Co., Ltd., trading under the name Novast, was founded by Dr. Guohua Zhang, Mr. Prasadraju Pinnamaraju, and a multinational management team. The company focuses on the development of drug-delivery systems and extended-release prescription medications. In 2012, Novast launched Philith™, its first oral contraceptive, into the US market. Since then, the company has filed more than 50 Abbreviated New Drug Applications (ANDAs) with the US FDA, receiving approvals for approximately 40 products, including 10 extended-release drugs. Nearly 40 products have been successfully commercialized in the US prescription drug market. Novast operates a 40,000 square meter CGMP facility in the Nantong Free Trade Zone, with a production capacity exceeding 2 billion tablets and 1.76 billion capsules annually. The company has consistently passed FDA inspections, with five consecutive reviews resulting in no Form 483 observations, and five of its products designated as Reference Standards by the FDA. In 2021, Novast received approvals from China’s NMPA for three high-barrier-entry drugs and passed GMP inspections by the Jiangsu Medical Products Administration. In addition to its own products, Novast partners with multinational pharmaceutical companies, offering contract research and manufacturing services. In January 2021, it closed a round of venture funding from HighLight Capital and Shiyu Capital. The company develops and manufactures a portfolio of prescription drugs, with a focus on high-barrier-entry products such as extended-release formulations and ultra-low-dose hormonal drugs. The company generates revenue through the sale of prescription drugs in both domestic and international markets, particularly in the United States. The company plans to continue filing ANDAs with the US FDA, while also broadening its presence in China following recent regulatory approvals.

## Funding rounds

- Series E, May 9, 2020, $141M — Legend Capital, China Merchants Capital, Xiamen C&D Group, HighLight Capital, Shiyu Capital
- Series C, Jul 3, 2009, $25M — New Enterprise Associates, SAIF Partners, Qiming Venture Partners, Lilly Asia Ventures, BVCF Capital

## Investors

- New Enterprise Associates (https://capitalatlas.ai/funds/new-enterprise-associates) — Series C
- SAIF Partners (https://capitalatlas.ai/funds/saif-partners) — Series C
- Qiming Venture Partners (https://capitalatlas.ai/funds/qiming-venture-partners) — Series C
- Lilly Asia Ventures (https://capitalatlas.ai/funds/lilly-asia-ventures) — Series C
- BVCF Capital — Series C
- Legend Capital — Series E
- China Merchants Capital (https://capitalatlas.ai/funds/china-merchants-capital) — Series E
- Xiamen C&D Group — Series E
- HighLight Capital (https://capitalatlas.ai/funds/highlight-capital) — Series E
- Shiyu Capital (https://capitalatlas.ai/funds/shiyu-capital) — Series E