On December 12, 2023, Ihang Capital and Chongqing Hongye Industrial Group Co., Ltd, a subsidiary of Chongqing Rongchang District Government, jointly set up a biopharmaceutical special industry fund, with a total size of 61.8 million yuan, the fund mainly subscribed to the directional issue of Shanghai Zesheng Science and Technology Development Co., Ltd, a company on the New Third Board, which was ultimately used for the special approval of the project of the core product, NuCardin®, in the chronic systolic heart failure indication and the Clinical Phase III trial. The Fund's investment will further accelerate the research and development progress of Shanghai Zesheng Technology Development Co., Ltd. and accelerate the process of Shanghai Zesheng Technology Development Co., Ltd.'s conversion from the New Third Board to the Science and Technology Innovation Board for IPO. At the same time, this investment will also promote the synergistic development of the pharmaceutical industry between Shanghai Zesheng Technology Development Co., Ltd. and Chongqing Rongchang District, and in the future, it will rely on the resource integration ability of the listed company to further promote the high-quality development of the overall local economy of Rongchang District and the ecosystem of local life and health enterprises.
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