Crystal Pharmatech, an SIP-based technology-driven contract research organization (CRO) that focuses on materials science and engineering for drug development, announced on Dec 25, 2018 that it has raised over RMB 100 million in Series B fundraising. Shiyu Capitals led the round with the participation of Cowincapital and SIP Oriza Seed Fund Management Co Ltd.

Started out in SIP's BioBAY in 2010, the CRO has established partnerships with more than 500 pharmaceutical companies across the world, including many top-ranking drug makers home and abroad. It operates R&D centers in Beijing (China), New Jersey (the United States) and Toronto (Canada) to provide all-around technical support for new drug discovery, development and marketing. The raised fund is expected to help enhance its R&D ability and better its services.