Low-profile Shanghai-based CDMO secures high profile investors for 9-digit Series C – Endpoints News

In a bid to ex­pand R&D and man­u­fac­tur­ing ca­pa­bil­i­ties, Shang­hai-based ZhenGe Biotech web­ted a $100 mil­lion Se­ries C Tues­day.

With of­fices in Shang­hai and the US, the transpa­cif­ic CD­MO gar­nered the sup­port of Gold­man Sachs As­set Man­age­ment, who co-led the fi­nanc­ing spherical with So­fi­na. Oth­er in­vestors joined within the spherical, in­clud­ing No­vo Maintain­ings, Qim­ing Ven­ture Cap­i­tal, and sev­er­al oth­er companies.

The se­ries brings the com­pa­ny as much as $225 mil­lion raised because it was discovered­ed in 2017. As a part of the elevate, ZhenGe named Kevin Xu, a person­ag­ing di­rec­tor at Gold­man Sachs As­set Man­age­ment, to its board.

ZhenGe says it has labored on near 150 tasks thus far — in­clud­ing mam­malian cell cul­ture medi­um de­vel­op­ment and professional­duc­tion, cell line de­vel­op­ment tasks, IND ap­pli­ca­tions and huge clin­i­cal part professional­duc­tion con­tracts. The com­pa­ny claims to have a “deep ex­per­tise” in mon­o­clon­al and bis­pe­cif­ic an­ti­bod­ies, AD­Cs, fu­sion professional­teins and vac­cines.

ZhenGe mentioned in a state­ment the funds might be used to power­en the biotech’s R&D ca­pa­bil­i­ties and ex­pand its GMP man­u­fac­tur­ing ca­pac­i­ty to wager­ter meet shopper de­mand.

Chair­man and CEO Jianx­in Chen not­ed the biotech will add mul­ti­ple 15,000L professional­duc­tion traces as a part of their ex­pan­sion plans.

The biotech cur­lease­ly has fa­cil­i­ties in Shang­hai, in­clud­ing a ten,000-square-me­ter GMP pi­lot professional­duc­tion cen­ter in Shang­hai’s Free Commerce Zone, and in Mary­land.

By way of drug ca­pac­i­ty and out­put, ZhenGe al­so has a GMP medi­um professional­duc­tion line with an an­nu­al out­put of 200 tons of dry pow­der, and a com­mer­cial man­u­fac­tur­ing base with three 2,000L and three 5,000L biore­ac­tors, that are cur­lease­ly un­der con­struc­tion.