Beijing Scitech-MQ Pharmaceuticals Limited (hereinafter referred to as “Scitech Pharma”), a leading Artificial Intelligence (AI)-driven drug discovery company, announced it has raised over RMB100 million in a Series A+ financing round. This round of financing included participation from professional institutions such as Tigermed Equity Investment Partnership, Elikon Venture, and Shanghai Moderation Private Investment Fund (Limited Partnership). Capital raised in this round will be used to accelerate the clinical trials of the company's new oncology drug candidates ST-1898 and ST-1703.

The signing ceremony of the strategic cooperation between SciTech Pharma and Shanghai Oriental Hospital was successfully held in Shanghai on December 18.

On September 10, 2021, Scitech Pharma ST-1703 clinical trial application was approved by the National Medical Products Administration (NMPA) (notification number: 2021LP01474, 2021LP01475). This is another project of Scitech Pharmaceuticals entering the clinical study stage after ST-1898 was launched in clinical trial in 2020. The clinical phase I trial will be formally launched at Shanghai Oriental Hospital very soon, with Professor GUO Ye as the principal investigator.

On July 8th, 2020, SciTech Pharmaceutical received the Notice of Drug Clinical Trial Approval from the National Medical Products Administration (NMPA), which approved ST-1898 to conduct clinical trials for solid tumor indications.

The clinical trial application of ST-1898, a class 1 small molecule drug with global independent intellectual property rights was officially accepted by NMPA on May 8, 2020.

Dr. WANG Yuan, Chairman of 2Y-Chem, Ltd. visited Scitech Pharmaceuticals, and Dr. WANG gave a detailed explanation on the key elements in the development of new chemical drugs.