Zhuhai Resproly Bio Pharmaceutical, a star enterprise incubated by Zhuhai International Health Port, will build plants in Jinwan District to realize an annual output value of 400 million yuan ($56 million) after launching is first product in 2021. 

On Aug 27, Resproly secured A-round financing of 50 million yuan ($7 million) from Huaige Capital, Yanghe Investment (Shenzhen Yanghe Biomedicine Industry Investment), Zhuhai Gree Financial Investment Management, and Zhuhai Kindly Medical Devices. Resproly will now build its plants in line with Good Manufacturing Practices (GMP), according to chairman Chen Yongqi.

Signing ceremony [Photo courtesy WeChat account: zhuhaijinwan]

The key biopharmaceutical startup was introduced by Jinwan District in 2018. It is primarily engaged in the R&D and industrialization of pharmaceutical formulations and devices for respiratory system inhalation. Currently in research are respiratory illnesses with huge clinical demands including asthma, chronic obstructive pulmonary disease, and allergic rhinitis.

Resproly won first prize under the enterprise category at the Zhuhai division of the 7th China Innovation & Entrepreneurship Competition. The company was selected as a seeded unicorn enterprise by the city government (unicorns have market value of at least $1 billion before going public).

To date, 14 enterprises involving investment of 8 billion yuan ($1.1 billion) have settled at Zhuhai International Health Port, which is located at the intersection of Airport Expressway and West Airport Road in Sanzao and is the core part of Jinwan District's emerging bio-medicine cluster. Their combined annual output value is to exceed 10 billion yuan ($1.4 billion) when they are put into production, said an official from the Jinwan government.