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Gaogang district nurtures potential unicorn, gazelle firms

etaizhou.gov.cn|Updated: November 30, 2023

Taizhou Medical High-tech Zone – also known as Gaogang district and located in Taizhou city, in East China's Jiangsu province – is said to be doing a great job in cultivating potential unicorn and gazelle companies.

A unicorn is a privately held startup company with a valuation of $1 billion or more. Gazelles are defined as start-ups worth over $500 million, not yet listed on a public stock exchange and most likely to 'go unicorn' within three years.

In the latest assessment, resident biopharma company Qyuns Therapeutics Co Ltd was recognized as a provincial-level potential unicorn company, selected for four consecutive years.

Unicorn companies in Jiangsu province are required to have been established for no more than 10 years, have received private equity investment and have not yet been listed, with a valuation exceeding $1 billion.

Founded in 2015, Qyuns Therapeutics is an innovative clinical company focusing on biological therapy for autoimmune and allergic diseases, with fully independently developed drug pipelines and mature commercial scale production capabilities.

Overall, 10 resident companies in the district were recognized as provincial-level gazelle companies. Gazelles are small and medium-sized enterprises entering a high growth period, supported by technological or business model innovation.

Of those, Jiangsu Cowin Biotech Co Ltd – whose main products include raw enzymes, sample preservation reagents and nucleic acid extraction or purification reagents – has been included on the list for six consecutive years.

It is a leading biotechnology company in China that has developed a complete business layout in the core process of molecular detection.

Currently, the zone is home to 27 gazelle companies.

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Work gets underway at the lab run by Jiangsu Cowin Biotech Co Ltd. [Photo/WeChat account: weigg6666]

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