WUHAN, China, May 23 / PRNewswire / – Chime Biologics, a world-class China-based CDMO company, announced today that it has received a total of $ 190 million in commitments from institutional investors. Over USD 100 million have already been received today. This round of funding was led by VMS Group, followed by Fidelity International and Panacea Venture. In early 2020, Chime Biologics had already closed a Series A financing round of USD 125 million.
Chime Biologics built the world’s first modular bio-production facility from GE KuBio in the Bio-Lake development zone of the biotech industry in Wuhan (China Optics Valley). The system complies with the globally applicable quality standards of ICH, FDA, EMA and NMPA. With its state-of-the-art facility and extensive bio-manufacturing experience, Chime Biologics provides integrated, one-stop solutions to the ever-changing needs of the rapidly evolving biopharmaceutical industry, from early drug development to late-stage clinical and commercial cGMP (Good Manufacturing Practice ) to meet. Since 2016, Chime Biologics has 100% success rate in bio production, providing high quality biopharmaceutical products to various customers.
In order to meet the increasing demand of various customers for CDMO services, Chime Biologics has already initiated the second phase of the plant expansion in order to increase the total production capacity to more than 140,000 l within the next 5 years.
“The successful completion of this funding round will further accelerate Chime Biologics’ capacity building process,” said James Huang, CEO of Chime Biologics. “With the rapid growth of the Chinese biologics market and increasing demand for CDMO services, Chime Biologics will continue to leverage its world-class quality system and manufacturing capabilities on a commercial scale to continue providing world-class CDMO services to our customers around the world.”
Andrew Ng, General Manager and Head of Healthcare at VMS Group, stated, “We are very impressed with the manufacturing history and rapidly growing customer base of Chime Biologics. We strongly believe that with our investment and strategic support, Chime Biologics will improve its manufacturing and grow its business quickly and become a leading CDMO player in both China and worldwide in the near future. ”
“It is a great honor for Chime Biologics to enjoy the trust and recognition of internationally renowned institutional investors. We will continuously build advanced technology platforms and additional capacities to better serve our customers. We will also become Biologics partners from the invite the whole world to exchange experiences and look for developments together, “explained Dr. John (Xianfang) Zeng, the CEO of Chime Biologics Limited.
Information on Chime Biologics
Chime Biologics is a world-class CDMO with offices in China providing customer-focused and cost-effective outsourcing services for the development and manufacture of biopharmaceuticals. The world’s first GE KuBio plant is located in the Bio-Lake biotech development zone in Wuhan, China, where total capacity can be expanded to over 140,000 liters in the near future. Chime Biologics has ISO 14001: 2015 and ISO 45001: 2018 certifications and is committed to maintaining the highest level of integrity. Since 2016, Chime Biologics has provided customers worldwide with clinical material for preclinical and clinical stages and supports their production in various scales from 50 l, 200 l, 500 l to 2,000 l through IND-capable studies to late process development and scaling, process characterization and Process performance qualification. Since then, Chime Biologics has been supplying clinical material to over 20 countries around the world.
Information about the VMS Group
The VMS Group is a leading multi-strategy financial group offering asset management (private equity, real estate and structured finance), brokerage and corporate finance advice. VMS Private Equity specializes in growth capital and focuses on investing in China in the healthcare, technology, media, telecommunications (TMT) and consumer goods sectors. VMS Healthcare Practice focuses on sustainable innovative companies worldwide that could solve unmet clinical needs in medical treatment, diagnosis and general health management. To date, the VMS Group has successfully completed more than 100 investments in mainland China as well as in the offshore sector worldwide since its inception and currently manages total assets of more than USD 3.8 billion.
Information on Fidelity International
Fidelity International provides investment solutions, services and retirement expertise to more than 2.5 million clients worldwide. As a privately run, purpose-oriented company with a 50-year history, we think across generations and invest long-term. Our clients operate in more than 25 countries and have total assets of $ 706.3 billion. They range from central banks to sovereign wealth funds, large corporations, financial institutions, insurers and asset managers to private individuals.
Information on Panacea Venture
Panacea Venture is a science-led venture capital firm focused on investing in and creating young life science companies that deliver breakthrough and innovative technologies and discoveries that can meet potentially large unmet medical needs and improve the quality of life. Our investments are targeted and precise. We deal with our portfolio companies in a very practical manner and often act as members of the founding team. We also bring significant experience, expertise, resources and contacts to the table. Panacea Venture manages both the USD Fund and the RMB Fund and has an office in Shanghai, China. Our investment teams are located in Europe, the US and China and cover most of the major hubs in the life science space.
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Accelerating Capacity Expansion Chime Biologics Announces Closing #190M Series Financing