CPE leads $150m Series B for China CDMO

Other investors include Green Pine Capital Partners, Hongtai Aplus, Yingke PE, and HT Capital, according to a statement. It follows a $60 million Series A for the company in December 2019.

The new capital will support construction of R&D and manufacturing facilities in Beijing and Chongqing, as well as the expansion of manufacturing capacity in the US. Joinn has four small to mid-size production lines in Beijing; the goal is to add 15 large-scale lines by the end of this year. Mid-size lines will be established in Chongqing.

Founded in early 2018, Joinn now has a team of more than 400 that focuses on outsourced biological drug development. It offers a one-stop, customized CDMO platform that covers drug development, clinical sample production, commercial production, and international licensing declaration.

The company has obtained a production license from the US Food & Drug Administration (FDA). It has also helped customers secure clinical approvals in China, the US, Spain, and the United Arab Emirates. 

CDMO is currently a popular investment theme in China. In the past six months alone, Chime Biologics has raised a Series A extension of $190 million, Thousand Oaks Biopharmaceuticals has secured an RMB400 million ($61 million) Series C, and investors have committed $70 million in Series B funding to Zhenge Biotech.

WuXi AppTec is the runaway leader in China’s pharmaceutical R&D outsourcing space, but service offerings vary across the industry. An increasing number of players have sought to become more integrated, combining contract research organization (CRO) and CDMO functions.

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• Topics
• Greater China
• Expansion
• Healthcare
• China
• Pharmaceuticals
• CPE Capital
• Green Pine Capital Partners
• Yingke Private Equity