JHL Biotech raises $45.6M in Series C funding for biosimilar aims

JHL Biotech, focused on biosimilar programs through clinical trials, said it closed on a Series C fundraising of $45.6 million under existing investor Milestone Capital and with new investors Sungent BioVenture and Liwick Investment Management.

The company, with offices in China and Taiwan, said in a press release that since it started in 2012, JHL Biotech has raised over $135 million in new equity issuances. The company has previously said it plans to list on Taiwan's Emerging Stock Board.

The company intends to utilize the funds to build a fill-finish facility in its Wuhan's commercial manufacturing plant in China, expanding its preclinical novel therapeutic portfolio, and applying the rest towards working capital.

"Since the last round of financing, JHL has completed the TFDA inspection on its Hsinchu facility, manufactured and released its first 500L GMP Drug Supply for a CMO client for Phase I human use in Australia, and is on track to filing its first biosimilar IND in the EU within 2H2015," the company said.

"JHL has also added an IND-enabling 200L scale pilot facility in Wuhan to support China-for-China CFDA filings."   

- here's the release and the JHL website