As a mage, I just want to pursue the truth

Chapter 22: Investment Institutions Flocking in

"I have basic trust in you and I believe in your integrity as a professional manager, but if the company is full of Mr. Lei's people, then even if I own 90% of the shares, it is not my company."

"I believe you understand what I mean. I prefer to be prepared in advance. There is no guarantee of benefits when it comes to the relationship between seniors and juniors. You should know how big the market for endorphins is."

Zheng Li made no secret of his purpose and his concerns about Cheng Gang and other people sent by Lei Jun.

After saying this, Cheng Gang's evaluation of Zheng Li even higher. If you plan ahead, you will succeed; if you don't, you will fail.

As an eighteen-year-old young man, it was very difficult to keep a clear head when receiving an investment of fifty million from the other party.

In addition, Cheng Gang was also very curious about Li Miaomiao. What was so special about her that Zheng Li entrusted her with such an important task?

"I understand your concerns. I will prove my integrity with my actions. As long as I am in Sinovation Biotech, I will consider its interests."

"Also, Ms. Li, I am a few years older than you, so I usually call you Miaomiao. Is that okay with you?"

Li Miaomiao replied: "No problem, Brother Cheng."

Cheng Gang thought to himself that the other party was also a wonderful person, who could understand his subtext immediately:
"Miao Miao, let me first give you a brief introduction to our company's structure. For now, we only have the finance department, human resources department, legal department, and R&D department, because our first product has not yet been officially launched."

"Before our first drug is approved for marketing, we will set up a sales department to be responsible for the sales of the drug. The structure of a start-up biopharmaceutical company is roughly the same: finance, human resources, sales, legal affairs and R&D."

"Things like public relations, clinical trials, quality management, etc. will only be considered after the company becomes bigger."

"We will also have our own first-line standardized production base in the future."

"Like Hengrui Medicine, they have their own production bases in many places across the country, and they also have a base in Suzhou that integrates R&D and production."

"Our company is now led by Director Zheng in charge of the R&D department, and I am in charge of other departments, but Director Zheng has the final say."

"My personal advice to you is that you should mainly participate in personnel and financial work in the early stage, so that you can have a grasp of the overall situation of the company as soon as possible."

“Once you have mastered the finance and personnel work, you can then learn more about the business.”

After Cheng Gang finished speaking, Zheng Li nodded slightly. He knew that Cheng Gang's proposal had no selfish motives.

Li Miaomiao: "Thank you for your advice, Brother Cheng. I also think it would be better to start with personnel and finance."

Zheng Li made the decision and said, "Then Cheng Gang, you can make the arrangements. I will continue to work downstairs."

Before conducting formal clinical trials, new drugs need to undergo qualitative analysis and preclinical trials, and then obtain approval from the State Food and Drug Administration before they can conduct human clinical trials.

The qualitative analysis of endorphins is relatively simple because there are previous papers that have conducted qualitative analysis, and Ke Chuang Bio only needs to write a review.

Preclinical trials are relatively more difficult because before the patent registration is approved, endorphins cannot be mass-produced industrially and can only be prepared through laboratory methods.

Ke Chuang Bio completed the preclinical trials in one and a half months and entered the period of waiting for approval of clinical trials.

Endorphins are very special. They are not completely new drugs as they were discovered a long time ago. However, they are not generic drugs as no pharmaceutical company has mass-produced endorphins for sale before.

If it is a generic drug, clinical trials are not required, only bioequivalence tests are required.

Domestic biopharmaceutical patent registration is faster than ordinary patent registration. In addition, endorphins are innovative drugs, so the registration process is even faster. After three months, the industrial production method of endorphins was approved by the state patent, and the results of the first phase of clinical trials have also come out.

Phase I clinical trials generally only require 20 to 80 cases, but the Phase I clinical trial of endorphin involved 100 cases.

Phase I clinical trials have verified the efficacy of endorphin injections and proved that their analgesic effect is better than morphine. In particular, control experiments have shown that endorphins can still work on some patients who have developed resistance to analgesics.

At the same time, the worldwide patent registration of endorphins is almost coming to an end.

This also resulted in Lei Jun's first investment of 50 million being almost used up, and Ke Chuang Bio had to start the second round of investment.

In fact, as early as after the patent was approved, relevant investment institutions had already found Cheng Gang and asked for an on-site investigation.

As soon as the Phase I clinical trial report came out, many powerful institutions had already obtained it.

Investment institutions all believe that this is a business that is sure to make money, and that if you invest, you will make money.

At the same time, these investment institutions once again raised their evaluation of Zheng Li.

There is an insurmountable gap between laboratory products and industrial production, and many laboratory products will take many years to be commercialized.

Zheng Li was able to invent a laboratory method for producing endorphins and simplify the process to achieve industrial mass production. Investment institutions wanted to invest in Ke Chuang Biotechnology just for the people.

At one time, investment institutions flocked in.

"Stephanie, you know I'm just the general manager. I can't say anything about the second round of investment in Kechuang Bio."

Cheng Gang looked helpless. Recent phone calls had taken up a lot of his energy because many of them were from acquaintances and it was difficult to refuse them.

Since the investment institutions couldn't contact Zheng Li, they came to harass him. The person talking to him now is Stephanie Hui, the head of Goldman Sachs' Greater China investment department.

"We are really optimistic about the prospects of Sinovation Biotech and hope to participate in the second round of investment in Sinovation Biotech."

“Goldman Sachs can help Sinovation Biotech accelerate the progress of its patent applications in Europe and the United States, and can help you complete clinical trials and obtain FDA approval at a faster speed.”

“Goldman Sachs can help the growth of Sinovation Biotech in all aspects.”

The conditions proposed by Stephanie are what Ke Chuang Bio urgently needs now.

Cheng Gang was unmoved. He smiled bitterly and said, "Stephanie, I have heard what you said from Young from IDG, Tuvia from Sequoia, George from Hillhouse, etc."

"I am very excited about what you said. I am willing to let you participate in the second round of venture capital, but I am not the big boss. I don't even have any shares. I am just a manager."

“I have no right to decide when the second round of investment will start, when to invest, and which institutions to allow to participate.”

"Go ask Mr. Lei from Rice. He has more say than I do."

Stephanie smiled and said, "It seems that I am bothering you. I don't need you to give me any affirmative answer, nor do I need you to do anything that goes against the interests of your company."

"I just want to meet Mr. Zheng and have afternoon tea with him, or even better, have lunch together."

(End of this chapter)