Gaorong, Tsing Song back China CDMO IntellectiveBio

Other investors include Fuho Capital, CNCB Investment Limited, Founder Securities and Win Harbor Capital. The company previously secured hundreds of millions of renminbi in a Series A round featuring Legend Capital, Tsing Song, and BioTrack Capital in 2020, according to AVCJ Research.

Founded in April 2018, IntellectiveBio focuses on macromolecular biopharmaceutical process development and large-scale commercial production. It has seven technology platforms, including ones dedicated to antibody-drug conjugates (ADCs) and protein science.

Headquartered in Suzhou's biomedical industrial park, the company has established production bases in Suzhou and Changshu. Expansion projects currently underway are expected to bring total production capacity to 220,000 litres by 2023.

IntellectiveBio wants to be a one-stop shop for all biological drug services from early pharmacology and toxicology research samples, through investigational new drug registrations, clinical trials, and commercialisation.

It claims to operate at high speed: a tri-specific antibody project went from molecular determination to delivery of a 200-litre sample within three months, while a bispecific antibody project took seven weeks to move from cell transfer to sample delivery.

The Series C proceeds will be used to expand the production capacity, upgrade the technology platforms, establish overseas operations, and team building, according to a statement.

With PE investment in China biotech falling dramatically in the first half of the year following a deterioration in public markets, some investors have highlighted the enduring appeal of contract research organisations (CROs) and CDMOs. As long as innovative drug development in China continues to grow, they will benefit.

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• Topics
• Greater China
• Expansion
• Healthcare
• China
• Pharmaceuticals
• Gaorong Capital