Chime Biologics announces $190m funds to accelerate capacity expansion

Published: 7-Apr-2021

The China-based CDMO has plans to increase the total manufacturing capacity to more than 140,000 L within the next 5 years

Chime Biologics, a China-based CDMO, has secured a total commitment of $190 million Series A+ investment from institutional investors.

The CDMO has built the world's first GE Kubio modular bio-manufacturing facility (from GE Healthcare) in Wuhan Bio-Lake Biotech Industry Development Zone of China (China Optics Valley). The facility complies with global quality standards of ICH, FDA, EMA and NMPA. With its state-of-the-art facility and rich experience in bio-manufacturing, Chime Biologics provides one-stop integrated solutions to support the dynamic needs of the rapidly evolving biopharmaceutical industry from early drug development to late-stage clinical and commercial cGMP production.

In order to meet the increasing demands for CDMO services from various customers, Chime Biologics has already started the second phase of its facility expansion to increase the total manufacturing capacity to more than 140,000 L within the next 5 years.

"The successful completion of this financing round will further accelerate the capacity expansion process of Chime Biologics," said James Huang, the Executive Chairman of Chime. "With the rapid growth of China's biologics market and the surging demand for CDMO service, Chime Biologics will further leverage on its world-class quality system and commercial-scale manufacturing capabilities to continue providing our customers worldwide with first-class CDMO services."

"It is the great honour of Chime Biologics to have the trust and recognition from internationally renowned institutional investors. We will continuously develop advanced technology platforms and more capacities to better serve our customers, and we always welcome biologics partners from all over the world to visit Chime Biologics, exchange ideas and seek for mutual collaboration," said Dr John (Xianfang) Zeng, CEO of Chime.

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