Recent Articles in CRO/CMO Services

GenScript ProBio of Nanjing, a biologics CDMO with operations around the globe, raised $224 million in a C round. ProBio offers end-to-end CDMO services from drug discovery to commercialization for antibodies, cell and gene therapies. The company said it would use the capital to increase manufacturing capacity, advance its R&D offerings and acquire companies that add services. After the funding, GenScript Biotech, a gene synthesis company, will continue to own 70% of ProBio, down from 80%, even though it added about $30 million to the funding. Legend Capital led the C round. More details....

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Beijing Biocytogen Pharma completed a $60 million IPO on the Hong Kong Exchange for its genetically modified animal and cell model business, which it offers to global pharmaceutical/biotech companies. Using its animal models, Biocytogen has also developed an innovative in vivo drug efficacy and safety screening process to discover 10+ preclinical and clinical candidates, a collection of monoclonal antibodies, bispecific antibodies and bispecific ADCs. Three products have been out-licensed and/or entered co-development. Biocytogen has a market capitalization of $357 million. More details....

Stock Symbol: (HK: 02315)

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WuXi Biologics and WuXi AppTec announced that each company would invest $1.4 billion over ten years to build R&D and manufacturing facilities in Singapore. The sites will offer CRDMO (Contract Research, Development and Manufacturing Organization) services to each companies’ clients. Over the past few years, both companies have invested heavily to expand their physical presences around the globe while also incorporating new technologies. Their respective CEOs characterized the expansion into Singapore as the next logical step of their continuing growth globally. Although the two companies are separate, both operate under the umbrella of WuXi PharmaTech. More details....

Stock Symbols: (HK; 2269) (SHA: 603259)

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ClinChoice, a US-China-EU clinical CMO, closed a $150 million Series E round financing from China investors. Formerly known as Fountain Medical Development, the company began life in Tianjin, China and added facilities in the US. ClinChoice CEO Ling Zhen told Endpoint News the company will use the new capital to expand in Europe and Southeast Asia, possibly via M&A, while adding remote monitoring and data analytic services. The round was led by Legend Capital and co-invested by Taikang Life Insurance, Sherpa Healthcare Partners and existing shareholders Lilly Asia Ventures and Apricot Capital. More details....

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Shanghai ZhenGe Biotech completed a $100 million C Round to strengthen its biologic drug CDMO services. The company offers end-to-end services from concept to commercialization to help customers discover, develop and manufacture biologics. Founded in 2017, ZhenGe has worked with more than 100 biopharma and biotech customers, completing over 150 projects that range from cell line development projects to IND applications and clinical trial production. ZhenGe has expertise with monoclonal and bispecific antibodies, ADCs, fusion proteins and vaccines. The C Round was led by Goldman Sachs Asset Management and Sofina. More details....

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