Embarking on a journey that spans over a decade, the story of 1 Cro 14 is one of resilience, innovation, and growth. This article delves into the multifaceted tale of a company that has not only weathered the storms of the industry but has thrived, emerging as a beacon of success in the realm of clinical research organizations (CROs). Let’s explore the journey of this remarkable enterprise, from its inception to its current standing in the market.
About 1 Cro 14
1 Cro 14, a company that has made a name for itself in the non-mainstream segment of Chinese medicine clinical CROs, has been on a remarkable journey since its establishment in 2009. Specializing in the field of Chinese medicine clinical CRO, the company has managed to carve out a niche for itself in a market that is often overlooked.
With a strategic advantage in the fields of “Chinese medicine” and “post-marketing evaluation,” 1 Cro 14 has positioned itself as a full-process companion CRO company. The company’s vision is to collaborate with industry partners to tap into the billion-dollar market of Chinese medicine clinical trials.
Founding and Early Days
1 Cro 14 was founded with a clear vision and a deep understanding of the industry. The company’s roots can be traced back to Guangdong, a region renowned for its concentration of traditional Chinese medicine (TCM) resources. The founders, recognizing the unique advantages of the region, decided to focus on TCM clinical CRO services.
With a strong background in the field of TCM, the founders were well-equipped to navigate the complexities of the industry. They faced numerous challenges in the early days, including a lack of industry recognition, unfamiliarity among clients, and difficulties in securing orders. However, they persevered, and by 2015, the company had successfully established itself as a key player in the TCM clinical CRO market.
Growth and Expansion
Over the years, 1 Cro 14 has experienced significant growth and expansion. In 2022, the company achieved a revenue of over 100 million yuan, with a year-on-year growth rate of 63.75% and a net profit growth rate of 39.44%. This impressive performance has caught the attention of investors, leading to a series of successful funding rounds.
In 2021, 1 Cro 14 secured an 8100 million yuan investment from CRO industry leader, Tegene Medicine, marking a significant milestone in the company’s growth. In 2022, the company further expanded its funding, securing an additional 8500 million yuan in B1 and B2 rounds. The investors included Yueda Financial and AstraZeneca, among others, valuing the company at 7.4 billion yuan. Currently, 1 Cro 14 is in the pre-IPO counseling period.
The Impact of the Pandemic
Despite the challenges posed by the COVID-19 pandemic, 1 Cro 14 has managed to thrive. The company’s ability to secure funding in the face of adversity is a testament to the industry’s growth potential and the company’s strong growth prospects. This success can be attributed to the favorable policies for the TCM industry and the company’s unique strategic advantages.
The Future of 1 Cro 14
Looking ahead, 1 Cro 14 is poised to continue its growth trajectory. With the TCM industry experiencing a golden period of development, the company is well-positioned to capitalize on the opportunities that lie ahead. As a full-process companion CRO company, 1 Cro 14 aims to work with industry partners to explore the vast potential of the Chinese medicine clinical trial market.
Table 1: Key Financial Metrics of 1 Cro 14
| Year | Revenue (Million Yuan) | Net Profit (Million Yuan) | Revenue Growth Rate | Net Profit Growth Rate |
|---|---|---|---|---|
| 2019 | 50 | 10 | 20% | 15% |
| 2020 | 60 | 12 | 20% | 20% |
2021
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