China's CMAB Biopharma gets $34m Series B

Additional participants included C-Bridge Capital, Cormorant Asset Management, Qianhai Fund of Funds, and Hangzhou Tigermed Consulting. The capital will be applied to upgrading manufacturing facilities as well as expanding manufacturing capacity and service offerings.

CMAB specializes in analytical method formulation and development of scalable production processes for biologic drug substances and drug products at the pre-clinical and early-stage clinical stages. It claims to have entered into collaboration agreements with a number of leading biopharma companies. 

“CMAB has quickly established itself as a force in CDMO [contract development and manufacturing organization] industry,” Qing Tan, founding partner of CD Capital, said in a statement. “We are delighted to lead this financing and support CMAB in its mission to enable clients to take their innovative concepts for tomorrow’s medicines from DNA to clinical product today, not only in China, but globally.”

Founded in 2013, CD Capital claims RMB4 billion ($635 million) in assets under management across both US dollar and renminbi funds. Recent activity includes participation in a $30 million round for 12Sigma Technologies, a US-based medical artificial intelligence company with operations in China, and an investment in Shanghai Smartee Denti-Technology, a developer of digital orthodontics systems.

The GP also backed a $20 million Series A for Singlera Genomics, a US and China-based company focused on cancer screening and diagnosis technologies. Last week, Singlera extended the round with a $60 million investment led by Green Pine Capital Partners and Prosperico Ventures.

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• Topics
• Greater China
• Healthcare
• Technology
• Support services
• Early-stage
• China
• C-Bridge Capital
• Qianhai FoF
• Pharmaceuticals