A researcher conducts research at Connect Biopharma Company, which is based in Taicang, a county-level city in East China's Jiangsu province. [Photo/taicangdaily.com]

Suzhou Connect Biopharma Co became the first company in Taicang, a county-level city in Suzhou was listed on the National Association of Securities Dealers Automated Quotation on March 19. A ceremony celebrating its listing was held on March 26.

Top officials in Taicang and Pan Wubin, co-founder and chairman of Suzhou Connect Biopharma, attended the ceremony.

"Connect Biopharma, which was founded in 2012, has been recognized as a unicorn in Suzhou for two years in a row, and it is now listed in the United States," according to the municipal government. "This was made possible through concerted efforts from all sides."

Local authorities expressed hope that the company would take its listing on Nasdaq as a new start, continue to increase input in new medicine research and development and become a world-leading biopharma company.

The ceremony in celebration of the listing of Suzhou Connect Biopharma Co on Nastaq takes place on March 26. [Photo/taicangdaily.com]

Connect Biopharma, which is located in the Taicang High-Tech New Zone, specializes in the research and development of the immunomodulator.

To date, the company has submitted 46 applications for patents of invention, 11 of which have been approved. The company raised $200 million in its third round of financing.

Taicang has always been supportive of the listing of its companies. Last year, it set up a 5 billion yuan ($761 million) fund to support industrial growth. Not long before, the city rolled out policies to boost the high-quality development of the substantial economy.

The city has also been offering professional counseling services to companies that are aiming to be listed.