Bide Pharmatech, a China-based CRO company, went listed on the Science and Technology Innovation Board on the Shanghai Stock Exchange on Tuesday, China Securities Journal reported.

The listing will raise 434 million yuan, which would be invested in projects including the pharmaceutical building blocks regional centers and research and development (R&D) laboratories.

Founded in 2007, Bide Pharmatech is a high-tech company. It provides more than 300,000 kinds of pharmaceutical building blocks with novel structure and diverse functions to new pharmaceutical R&D institutions, with over 70,000 kinds in stock.

Now, the company has become one of the leading enterprises of pharmaceutical building blocks under kilogram level in China, according to Dai Long, chairman of Bide Pharmatech.

Thanks to the variety richness of building blocks, Bide Pharmatech has expanded a large number of well-known end customers, including multinational pharmaceutical companies such as Roche, Merck and Pfizer.

Insiders believe that under the background of the steady development of the global pharmaceutical R&D industry, the pharmaceutical building blocks R&D and production will embrace a bright future.

In the future, the company will actively carry out the global layout, closely follow the direction of pharmaceutical frontier R&D, quickly respond to customers' diversified needs and help the global pharmaceutical R&D institutions.