For further development, in February 2012, ConVerd registered a company called HangzhouConVerd Co., Ltd. in Zhangjiang Hangzhou Future SCI-Tech City. On May 28, 2013, ConVerd officially signed the cooperation agreement with the adiministration of Hangzhou Future SCI-Tech City for the development of Informatized Innovation Center of Tranlational Medicine, and received 20 million RMB funding from the government. Converd is taking part in the development of series of new therapeutics, including five Class 1 new drugs and four National New Drug R&D Program projects. The total value of contracts, signed by ConVerd, has been 135 million.