On June 20th, 2023, Greatwall Strategy Consultants (GEI) released the “2023 China Potential Unicorns Research Report”. Cloudbreak Pharma is honoured to be named one of the potential unicorn companies in China. The report showed that Suzhou ranked third in the country and first in the province in terms of number of potential unicorns with 75 potential unicorns, a 23% increase from 2021. A unicorn generally refers to unlisted technology startups established for less than 10 years but with a valuation of over 1 billion USD. Recognizing Cloudbreak Pharma as a potential unicorn reflects our strong competitive advantages and tremendous intrinsic value yet to be unlocked.
Cloudbreak Pharma is the only biotechnology company in Suzhou New District to receive the “Potential Unicorn” title this year. The report pointed out that unicorns in Suzhou have outstanding frontier technology attributes. Suzhou’s recent transition from a sole focus on biotechnology to a multi-track integration of digital and physical technologies fosters room for innovation and deepened collaborations across the upstream and downstream cycle. These companies span across various regions of Suzhou, with main focus on high-tech industries and manufacturing fields. Biotechnology is the key developing industry in Suzhou, with 39 potential unicorns emerged around the three major industrial clusters.
Cloudbreak Pharma will continue to leverage Suzhou’s innovative ecosystem that is conducive to the rapid growth of high-growth technology unicorns, which will accelerate the company’s growth and help seize further development opportunities through various incentive policies.