Genetic Design and Manufacturing Corporation (GDMC), a design and manufacturing organisation that focuses on next generation advanced genetic therapies, today announced a Series A funding of $21m.
The funding round is led by Celadon Partners, an Asia private equity firm focused on investments in industries ready to adopt transformative technology and new business models.
The round also included premier investors such as WI Harper Group, a leading cross-border venture capital firm, and SEEDS Capital, the investment arm of government agency Enterprise Singapore, alongside global biotech venture capital firms like NSG Ventures.
The funds will be used to accelerate novel technology and process efficiency improvements to drive greater manufacturing cost reductions for partners who aim to advance medicines through clinical trials and towards commercialisation.
“The process of manufacturing a genetic medicine is extremely intricate and demands a specialised and highly knowledgeable team to successfully bring it to fruition. We are grateful to our investors for their support in realising our vision of democratising the manufacturing of advanced genetic medicines while levelling the playing field for innovative companies and leaders in advanced therapies,” said Michael Koeris, CEO and Co-Founder of GDMC. “With our recent funding, we aspire to cultivate stronger collaborations with more partners in the US and APAC region, working hand in hand to improve the state of healthcare and treatment for patients.”
The founders established GDMC to initiate a new partnership approach centred on better upfront genetic medicine development by design and using synthetic biology, as well as focusing on three pillars that the market is demanding: success-based partnership with the sponsor, technical innovation, and significantly lower cost of goods.
Jonathan Su, Managing Director at Celadon Partners, comments: “GDMC is uniquely positioned in the genetic medicines supply chain and we believe that Singapore provides a compelling value proposition for customers in terms of both a deep talent pool and cutting-edge technologies."
