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Qiming Venture Partners to Invest RMB 100 Million in GanLee Pharmaceuticals

May. 18, 2010

GanLee Pharmaceutical Company Limited announced on May 19, 2010 that it has received an investment of RMB 100 million from Qiming Venture Partners. For GanLee, which is dedicated to the development and marketing of human recombinant insulin and insulin analog products, this is the first round of financing.
Insulin production technologies can be divided into three generations. The first generation is animal insulin, which is gradually becoming obsolete. The second generation is human insulin, which is currently more popular. The third generation is insulin analog. To date, GanLee and Sanofi-Aventis are the only two companies in the world with patented technologies to produce insulin analog.
In 2009, China’s domestic insulin sales totaled 6 billion RMB. At present, the Chinese market is dominated by Novo, Lily and Sanofi-Aventis.