China’s CMAB Biopharma captures $34M in series B funding to upgrade facilities

Suzhou, China
The company said it will use the funds to upgrade its plant in the Suzhou BioBay Park in China. (Christian Gänshirt/CC BY-SA 4.0)

CMAB Biopharma, a China-based CDMO, snagged $34 million in series B financing the company said will be used to upgrade and expand its manufacturing plant.

The company, which specializes in the development and manufacturing of biologics products, said it will use the funds to upgrade its plant in the Suzhou BioBay Park in China. 

The funding round was led by CD Capital, with joint participation by C-Bridge Capital, Cormorant, Qianhai FoF Fund and Tigermed.

Free Daily Newsletter

Like this story? Subscribe to FiercePharma!

Biopharma is a fast-growing world where big ideas come along daily. Our subscribers rely on FiercePharma as their must-read source for the latest news, analysis and data on drugs and the companies that make them. Sign up today to get pharma news and updates delivered to your inbox and read on the go.

“We aim to bring our client expertise and knowledge to efficiently advance products from concept into the clinic,” Qibin Liang, CMAB’s president, said in a statement. “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.”

The company said its manufacturing facility will be able to generate preclinical and early-stage clinical (phase 1/2) products using manufacturing that follows global GMP standards.


Suggested Articles

Traditional generics bigwigs Teva, Mylan, Sandoz, Amneal and Endo have lost out to a group of six competitors in terms of U.S. weekly prescriptions.

As a key global ingredient supplier, problems in China can ripple worldwide as they have for Swiss CDMO Lonza.

What challenges continue to plague the pharmaceutical industry for almost a decade? Check out this remarkable innovation in glass science that may be the…