Chinese CDMO secures $34m to upgrade GMP facilities, expand capacity

By Melissa Fassbender

- Last updated on GMT

(Image: Getty/Golden_Brown)
(Image: Getty/Golden_Brown)
CMAB Biopharma has raised $34m in Series B financing to upgrade its GMP facilities – and has entered into collaboration agreements with “several” biopharma clients, says CDMO.

The funding round was led by the venture capital firm CD Capital and included participation from C-Bridge Capital, Cormorant, Qianhai FoF Fund, and Tigermed.

CMAB Biopharma Inc. (CMAB) is a full-service contract development and manufacturing organization (CDMO) providing development manufacturing services of antibodies and biologics for clients in China and globally.

According to the company, the funding proceeds will be used to upgrade its 2,000L Good Manufacturing Practices (GMP) facilities. The funds will also be used to expand manufacturing capacity and enable the company to provide 50L/200L/500L/1,000L/2,000L bioreactor scale GMP manufacturing services.

The facility, located in Suzhou’s BioBAY Park, will be able to produce pre-clinical and early-stage clinical (Phase I/II) products.

CMAB also recently announced that it has entered into collaboration agreements with several leading biopharma companies.

This financing furthers our vision to become a fully-integrated CDMO platform providing clinical and commercial production services to the Chinese domestic and the international biologics markets,”​ said Qibin Liang, president of CMAB, in a press release.

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