Investment institutions' expectations for Kechuang Biotech are not just as simple as listing. They believe that Kechuang Biotech has the potential to become the leader in domestic innovative drugs, and there is no rush to go public.
The top ten pharmaceutical companies in the world all have their own flagship products. For example, AbbVie has an annual turnover of more than 40 billion yuan, of which 20 billion yuan in revenue comes from its flagship product Humira. Merck’s flagship PD-1 inhibitor pembrolizumab injection, Roche Pharmaceuticals, etc. are all the same.
Take domestic pharmaceutical companies as an example. Long-established pharmaceutical companies such as Lukang Pharmaceutical and Northeast Pharmaceutical have products and sales, but because they do not have competitive products, their valuations cannot compare with Changchun Hi-Tech and Pien Tze Huang, which rely solely on one drug.
Some people may think that the valuation of Kechuang Biotechnology's Series B investment of 47.1 billion yuan is expensive, but from the perspective of investment institutions, they feel that they have made a lot of money, especially after the release of production capacity this year and the good response to the launch of Endorphin.
Endorphins are hailed as another great single-product miracle drug by pharmaceutical peers in the industry, and endorphins are now in the early stages of development.
Roche Pharmaceuticals purchased part of Genentech in 1990.
Later, in 2009, Roche Pharmaceuticals acquired 44% of Genentech's shares for a purchase price of 46.8 billion yuan.
When it acquired Gene Technology Company, Gene Technology Company had only one flagship product—artificial insulin.
From a later perspective, Roche Pharmaceuticals' acquisition of gene technology was undoubtedly a hugely profitable business, because more than 70% of Roche's product sales later came from drugs developed by gene technology, including Herceptin, Rituximab, Avastin, etc. wait.
When foreign companies such as Goldman Sachs and IDG invested in Kechuang Biotechnology, their quotations also referred to the acquisition of Roche Pharmaceuticals, because in their view, artificial endorphins are products that can compete with artificial insulin. Zheng Li has excellent R&D capabilities, has endorphins to provide cash flow support, and has top R&D talents. The price of Kechuang Biotech of 47.1 billion yuan is completely acceptable.
...
It has been almost a year since Li Miaomiao came to Suzhou from Jiangcheng. Only one year has passed, but it feels like centuries have passed.
She saved twenty years of time in the workplace. It can be said that very few of her former classmates at Jiangcheng University could spend twenty years to achieve her current position.
Participating in the process from establishment to growth of a company with a valuation of over 100 billion yuan and more than 2,000 employees is an experience that cannot be bought with money.
But Li Miaomiao only feels one way, that is, tired or fulfilled.
When your mood is high, you are fulfilled; when your mood is low, you are exhausted.
Li Miaomiao works in addition to work every day. When I first arrived, I was busy working and studying, and participated in the company's system construction, talent recruitment, financial operations and other large and small matters.
Cheng Gang recognized Li Miaomiao's work very much and thought that she was careful and thoughtful in her work. Not only was she reliable in her work, but she was also thorough in getting along with people. So much so that when he later took charge of recruitment, he looked highly upon the students of Jiangcheng University.
Later, Li Miaomiao finally cleared her mind and gradually began to adapt to work. After the company received the second round of investment, Zheng Li arranged for her to study finance.
After the production and R&D integrated base was established, Zheng Li directly asked her to be the vice president in charge of finance.
Li Miaomiao knows that she has many shortcomings. If she doesn't learn about financial work, she will be ignored by the financial director and used as a rubber stamp.
Therefore, in addition to her daily work, she is also busy studying every day. Li Miaomiao feels much more tired than her senior year of high school.
She used to see Zheng Li once a day, then once a week, and now she can only see Zheng Li once a month.
Li Miaomiao wondered if the other party was a robot, and work and life had been integrated.
"Director Zheng, the main work this month is as follows. Endorphin production capacity is gradually released. The monthly production capacity is now 680L, and the yield rate is around 90%."
"The location selection and contract signing for the laboratory in the Lion City has been completed, and Aibo Biotechnology Co., Ltd. has full authority to design the laboratory and purchase equipment for us..."
When Li Miaomiao meets with Zheng Li every month, he usually reports on the work content first and then chats for a while.
Zheng Li also needs an anchor to keep his humanity. If a mage loses his humanity, he will fall into darkness. There are many examples of this.
A mage who has fallen into darkness will do whatever it takes to achieve his goals and attack ordinary people arbitrarily. This idea was a mainstream idea in the Middle Ages, but in Zheng Lilai's era, this idea was incorrect.
Mages and ordinary people are the same species. This is the philosophy of the Mages Alliance. Mages are superior to humans, and mages and humans have undergone fundamental changes. This is the philosophy of the Sim Empire.
The Empire and the Alliance are at odds with each other.
After Li Miaomiao reported on the business dynamics of Kechuang Biotechnology this month and the matters that required Zheng Li's decision-making, Zheng Li replied:
"Regarding the issue of endorphin production capacity, I will optimize the production process and increase production capacity. Regarding the second phase of the endorphin production project, I agree in principle."
"I think it's okay to license it to other pharmaceutical companies, but how to charge the patent fees needs to be negotiated. You can't license it to other pharmaceutical companies without reason."
Regarding authorization, Zheng Li didn't think it mattered. Money was of little use to him. What he cared about was whether he could restore his spellcasting ability as soon as possible.
“All the equipment in the Lion City Laboratory is purchased from the best, so there is no need to consider cost.”
"Cheng Gang's proposal is to establish an investment company to invest in companies in the biomedical industry. I think you can invest or not. You can discuss this first, and then formulate a complete plan and report it to me."
"..."
After Zheng Li replied one by one, Li Miaomiao asked: "Jiangcheng University is sending you a message through my dad: When Jiangcheng is unblocked, Jiangcheng University hopes to grant you a double bachelor's degree in biology and mathematics."
Whether it is due to Zheng Li's achievements or Zheng Li's huge donation to Jiangcheng during the epidemic, Jiangcheng University is very eager for Zheng Li to become a graduate of Jiangcheng University.
There is a difference between graduating and being unemployed.
Zheng Li: "What do I need to do? Let them award you a bachelor's degree, and you can also study for an MBA."
Li Miaomiao was slightly touched by Zheng Li's concern, "I feel that there are still many shortcomings that need to be learned. I plan to go back and continue my studies in the second half of this year."
Zheng Li: "You want to go back to class? Then who should I leave to the affairs of Science and Technology Biotechnology?"
Li Miaomiao: "I can take care of both sides at the same time. The one at Jiangcheng University only has exams and no classes, and then I can occasionally go there to communicate with the teacher."
The treatment given to Li Miaomiao by Science and Technology Biotechnology can fully support her round-trip air tickets several times a week. The problem is that there is no airport in Suzhou.
Yes, there is no airport in Suzhou. If you want to take a plane, you have to go to Liangxi or Shenhai. As the second largest city in Jiangsu Province after Jinling, Suzhou does not have an airport.
