Anhui Wanbang Pharmaceutical Technology Co Ltd was founded in 2006 and is located in Hefei National High-tech Industry Development Zone. [Photo/WeChat ID: hefeigaoxinfabu]

Anhui Wanbang Pharmaceutical Technology Co Ltd was approved on Oct 13 to be listed on the Shenzhen Stock Exchange's Science and Technology Innovation Board and is expected to become the first listed CRO (Contract Research Organization) from Anhui province.

The company provides both pharmaceutical research and clinical research services. It offers professional pharmaceutical research and development (R&D) outsourcing services for pharmaceutical enterprises and other pharmaceutical R&D institutions on a contract basis.

Its proposed public offering of new shares will not exceed 16.6667 million shares, and it plans to use funds of 483.98 million yuan ($67 million) raised from the offering for drug R&D, a pharmacokinetic engineering center, and other projects.

With rich experience in carrying out projects and R&D strength, the company has served many well-known pharmaceutical companies, and has been honored as a high-tech company and one of China's top 20 pharmaceutical outsourcing companies, boasting strong popularity and market influence among CROs.