Media Spotlight | Yu Qiang: The Entrepreneurial Journey of a "Veteran" in the Pharmaceutical Industry

On August 8, the first domestically produced teriflunomide tablet developed by Shengshi Tai was launched for sale, offering a new treatment option and ensuring a reliable supply of medication for multiple sclerosis patients in China.

In response, Shengshi Taikang Biopharmaceutical Technology (Suzhou) Co., Ltd. Founder and CEO Yu Qiang, expressing his satisfaction, said that after more than a decade of relentless progress, the company has finally taken its first monumental step in this long journey.

In May 2018, multiple sclerosis was included in China's "First Batch of Rare Disease Catalog."

Yu Qiang stated that, in fact, rare diseases are not so rare after all. However, the real, unspoken pain for patients with rare diseases lies in the fact that there is currently no cure available. The earlier multiple sclerosis is diagnosed and treated, the better patients can manage their symptoms and slow down the progression of the disease.

Shengshi Taikang was established in Suzhou in 2010. Industrial Park District established, The core team boasts decades of industry experience spanning the entire lifecycle of internationally marketed pharmaceuticals. Dedicated to the research, development, and industrialization of innovative small-molecule drugs aimed at breakthrough therapies Leveraging an integrated drug R&D technology platform and a diversified business vision, the company has built a robust pipeline of innovative drugs spanning multiple therapeutic areas, including diabetes management, cancer treatment, and rare diseases.

Yu Qiang boasts a strong academic background in chemistry, having pursued his studies from Peking University through Kansas State University to the University of Kansas, where he earned his bachelor’s, master’s, and doctoral degrees in chemistry. After graduation, he spent several years working at a pharmaceutical chemistry technology company and later went on to successfully found his own venture focused on developing innovative drug-molecule modules. After nearly two decades living and working overseas, he returned to China in 2010 and teamed up with Mr. Ding Juping—someone with extensive experience in new drug research, development, and regulatory submissions—to co-found Shengshi Taikang.

"Why return to China to start a business?" "Why choose Suzhou as the place to launch your venture?" and "How difficult is entrepreneurship, really?"—these three profound questions have always stayed with Yu Qiang. While he can usually provide straightforward answers to the first two, the last one remains unanswered.

Speaking about why he chose to return to China to start a business, Yu Qiang explained: "There are primarily two reasons. First, around 2008, we discovered a series of active compounds targeting DPP-IV, a key diabetes-related enzyme, and we were eager to accelerate their development and eventual commercialization. At the time, domestic support for returning overseas entrepreneurs—and the overall entrepreneurial environment—were also becoming increasingly robust, especially in terms of policies supporting the biopharmaceutical sector."

Additionally, making affordable access to high-quality and innovative medicines possible for patients in China is Yu Qiang’s heartfelt wish—and it also played a significant role in his decision to return home and start his own business. "This was the right choice made at the perfect time," he says. "China is brimming with transformation, opportunity, and challenges, and I believe there’s tremendous potential ahead."

"Deciding to start my business in Suzhou was ultimately swayed by the back-and-forth emails I exchanged. Back when I was still in the U.S., I reached out to the Suzhou Industrial Park government with questions about entrepreneurship, and every response I received was incredibly professional—so polished, in fact, that it even made me wonder if their English was better than mine! That experience piqued my curiosity about Suzhou immensely." When Yu Qiang set foot on Suzhou soil, he discovered that this city, where "every household rests its head against the river," boasts a strong capacity for innovation.

These days, Yu Qiang has already been quietly persevering on the thorny path of entrepreneurship for more than a decade. He’s discovered that Suzhou, aside from being incredibly livable, also demonstrates remarkable thoughtfulness and precision in its support for talent. The city effectively addresses the various challenges faced by biopharmaceutical innovation companies as they grow, offering a wide range of attractive policy incentives to help them thrive.

How difficult is entrepreneurship, exactly? Yu Qiang says this is a question that’s still unfolding—there’s no definitive answer yet. In his own words, This is the "Long March" for China's biopharmaceutical industry—once abandoned, it would mean that all previous efforts and sacrifices would have been in vain.

“Up until now, 2015 has been the toughest year,” Yu Qiang recalls. Back then, starting a business in China meant earning very little—so little, in fact, that raising funds for the company was incredibly challenging, and there simply wasn’t enough money to cover clinical trials. By 2015, the company faced serious financial troubles, leading to a massive brain drain as top talent started leaving. Even when we extended offers to potential hires, no one ended up joining us. It truly was an incredibly difficult year.

Looking back on those years today, after many years have passed, Yu Qiang says, "Sentiment is a powerful force." He explains that his original motivation for staying the course was the heartfelt desire to "ensure that patients in China can access affordable, high-quality, and innovative medicines. I never considered giving up—because if I did, all the efforts we’ve made so far, including the sacrifices my family has endured, would simply become meaningless."

"Only one hero rises while countless others fall." Yu Qiang sighed, reflecting on how many returning scientists and researchers, after enduring the bitter realities of entrepreneurship, ultimately succumbed to the harsh realities of drug development—namely, the excruciatingly long R&D cycles, massive investment demands, and painfully low success rates. This very challenge was precisely one of the key reasons venture capital firms had historically shown little enthusiasm for this field. After all, investing in such ventures often meant facing long-term risks: no clear buyers down the line, and notoriously difficult exit strategies. For institutions, these factors clearly made the math "not worth it." It’s this very issue that once left many returning entrepreneurs grappling with severe funding shortages.

“I’m fortunate—as long as I keep running on this path, there’s still hope.” Since returning to China and building everything from scratch, Shengshi Taikang has steadily followed the “me-too to me-first” growth trajectory, with its clinical application submissions increasing year after year. To date, Shengshi Taikang has secured a total of nearly 600 million RMB in funding.

Yu Qiang said he now simply wants to focus on steadily guiding his team forward, one step at a time. He emphasized maintaining momentum—never settling for mediocrity or falling behind. It feels like a long-distance race: you’ve got to stay close to the leaders, staying firmly within the front pack, because that’s where the real opportunity to surpass others lies.

Yu Qiang, Famously dubbed the "poet of the pharmaceutical world" in medicine, and the "pharmacist of the poetic realm" in poetry—drug development truly mirrors the art of classical Chinese poetry: medicine resides within the verses, while the verses resonate deep within the human soul. Suzhou has long been cherished by scholars and artists, whether it’s the picturesque garden landscapes with their delicate bridges, flowing streams, and quaint homes—or the refined, meticulous flavors of Jiangnan cuisine. All of this has provided Yu Qiang with a profound sense of emotional comfort.