Chime Biologics Completes US$190M Series A+ Financing
Chime Biologics Limited, a China-based, world-class CDMO company, announced today that it has secured a total commitment of US$190 million investment from institutional investors, and over $100 million investment has already been closed today. This round of financing was led by VMS Group, followed by Fidelity International and Panacea Venture. Previously the company had just completed its Series A round financing of US$125 million in early 2020.
Chime Biologics has built the world’s first GE KuBio modular bio-manufacturing facility 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, the company provides one-stop integrated solutions to support the dynamic needs of the rapidly evolving bio-pharmaceutical industry from early drug development to late stage clinical and commercial cGMP production. Since 2016 the company has been maintaining a success rate of 100% in bio-manufacturing and providing various customers with top-quality biopharmaceutical products.
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 140,000L within the next 5 years.
“The successful completion of this financing round will further accelerate the capacity expansion process of Chime Biologics,” said Mr. James Huang, the Executive Chairman of Chime Biologics. “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.”
Mr. Andrew Ng, the Managing Director and Head of Healthcare of VMS Group said, “We are very impressed by the manufacturing track record and fast-growing customer base of Chime Biologics. With our investment and strategic support，we strongly believe Chime Biologics could expand its production and business rapidly, and become one of the leading CDMO players both in China and the global arena in the near future.”
“It is the great honor of Chime Biologics to have the trust and recognition from internationally renowned institutional investors. We will continuously build up advanced technology platforms and more capacities to better serve our customers, and also welcome biologics partners from all over the world to come here, exchanging experiences and seeking for developments together,” said Dr. John (Xianfang) Zeng, CEO of Chime Biologics Limited.