October 12, 2022 — Yaocheng, a new-generation leader in digitalizing life science clinical research, has recently completed tens of millions of dollars in A+ round financing. The round was led by Han Kang Capital with participation from B Capital, and exclusive financial advisory from Huaxing Capital.

Established in Shanghai, China in August 2020, Yaocheng aims to achieve comprehensive and intelligent informationization of life science clinical research through globally leading computer technology. The company is dedicated to helping the life science industry achieve cost savings and efficiency improvements in innovative research and development stages. The team at Yaocheng comprises members from Google, Verily, Splunk, Medidata, Veeva, and Wuxi AppTec, among other global leading companies.

In May 2021, Yaocheng launched its next-generation clinical research cloud platform, AuroraPrime 1.0, designed for tomorrow's needs. The company completed a billion yuan A-round financing in July of the same year. In May 2022, Yaocheng released AuroraPrime 2.0, achieving the integration and informationization of the entire clinical trial process starting from the development of clinical research designs. The company also announced its product strategy of embracing the direction of remote intelligent clinical research (DCT). In August 2022, Yaocheng formally moved into the Shanghai SK Building, a landmark building in Pudong, Shanghai.

Ms. Xiao Chen, CEO of Yaocheng, stated, "Yaocheng is a technology-driven startup, and our product and technology research and development team mainly comes from a group of global leading high-tech companies. Since our establishment in 2020, we have been committed to exploring more possibilities for innovation and empowerment in the field of life science clinical research through computer science. From the real integration of system-level architecture to the innovative intelligent application of multiple professional deep scenes, Yaocheng's team has solidly fulfilled our promises to customers and investors. Based on our in-depth understanding of different scenarios in the clinical trial field, the AuroraPrime clinical research platform starts with clinical protocol designing and builds the circulation, precipitation, and application of the full-link data in the clinical trial stage with the Clinical Logic Engine as the core. We are bringing different tomorrows of clinical research informationization and intelligentization to users with our globally leading technological capabilities and product design concepts."

Mr. Zhi Zhang, Chief Business Officer of Yaocheng, said, "Yaocheng pays great attention to the success of our customers. We deeply understand industry demands and continue to explore future trends to realize users' ideal system usage experience and application value. Our product research and development team has a forward-looking design concept and creative implementation capability, which makes Yaocheng's products widely recognized by industry experts. From traditional EDC and RTSM systems to Yaocheng's innovative intelligent plan writing system, remote intelligent clinical research system, and more future-oriented data-driven intelligent clinical systems, Yaocheng has conducted in-depth cooperation with many leading companies in the life Sciencesss innovation fields globally."

Mr. Quanhong Yuan, General Partner of Hankang Capital, said, "Hankang Capital has always been focused on supporting excellent innovative enterprises in the life science industry and accompanying them to success. The importance of clinical research in the pharmaceutical innovation process is unquestionable. Enterprises should fully utilize information technology to improve the data circulation and application efficiency of clinical trials while ensuring compliance, accelerating the launch of innovative drugs. Yaocheng is such an innovative enterprise that is leading the trend of clinical trial informationization development with its leading technology."

Ms. Daisy Cai, General Partner and Head of China at B Capital, said, "As a necessity product required by regulations, the clinical trial software market has broad space. In the current trend of decentralized and platform-integrated clinical trials, innovative enterprises with strength have ample opportunities to enter the fast lane of growth. The B Capital team has long focused on the medical and health and enterprise services fields, and we highly recognize Yaocheng's top-notch product and innovation capabilities in this cross-field. We are pleased to see that Yaocheng has continuously enriched its product line, achieved rapid growth in orders, and been recognized and selected by many top pharmaceutical customers in the industry since its establishment two years ago. B Capital looks forward to continuing to deepen cooperation with Yaocheng in the future and providing empowerment in many aspects such as internationalization development."

Mr. Yijing Xie, Managing Director and Head of Healthcare and Life Sciences at China Renaissance, said, "We are honored to assist Yaocheng in completing this round of financing. The cross-border integration team of Yaocheng deeply understands the clinical research needs of the life science field, and based on a forward-looking strategic layout, it has established a short-term layout of the life science clinical digital integration and intelligent platform with strong technology and execution capabilities. It has accelerated the digitalization process of clinical research in the life science field. We believe that Yaocheng will accelerate its development with the continuous support of new and old shareholders and continue to empower the life science field to enter a new era of digitalization and intelligence."

About Yaocheng Health Science&Technology

Yaocheng is focused on the clinical research and development field of life sciences, and is committed to creating a globally leading new generation of clinical research SaaS platform. It leverages cloud computing, big data, AI, and other technologies to empower the trial design, data management, and operation of life science research and development, ensuring clinical data consistency, improving design and execution efficiency, controlling cost input, accelerating the commercialization of innovative drugs and new medical devices, and benefiting human health.

About Hankang Capital

Hankang Capital is a venture capital fund focused on the pharmaceutical and health industry. The fund's mission is "to empower pharmaceutical innovation and safeguard human health" and to work with leading scientists and entrepreneurs to develop breakthrough new drugs to treat major diseases. Hankang Capital is based in China and invests globally. Many of the companies it has invested in have grown into industry leaders, such as InnoCare (09969.HK), Akeso, Inc. (09926.HK), KeyMed Biosciences Inc (02162.HK), Shenzhen Chipscreen (688321.SH), and Abbisko Therapeutics (02256.HK).

About B Capital

B Capital is a partner-based investment fund with unique global resources and a top consulting background, committed to providing deep empowerment for enterprises. The fund currently has offices in eight cities in Asia and North America and manages approximately $6.5 billion. B Capital focuses on enterprise services, healthcare, Chinese companies going global, and climate sustainability, covering the entire life cycle of enterprise development. Leveraging its strategic partnership with Boston Consulting Group (BCG), B Capital provides business resource import and deep empowerment for entrepreneurs.

About China Renaissance

Founded in 2005, China Renaissance("CR") is a leading financial institution that provides a full range of trusted services, including investment management, private placement, M&A advisory, equity underwriting, sales & trading, research and wealth management. Over the past 18 years, CR has developed an unmatched track record of supporting clients throughout their financial life cycle, which uniquely positions CR as the partner of choice for the most innovative and disruptive champions in China's fast-growing Smart Economy ecosystem.