Thousand Oaks Biopharmaceuticals Completes $45 Million Series A Financing to Expand Integrated CMC and Build the World Largest Cell Cultural Production Facility in China
THOUSAND OAKS, Calif. & SHANGHAI--(BUSINESS WIRE)--Jan 3, 2019--Thousand Oaks Biopharmaceuticals, Inc. (“TOBIO”), a leading integrated global CMC organization including GMP cell culture media and biomanufacturing capabilities today announced the closing of a $45 Million USD Series A financing to advance its phase II CDMO and started its construction of Large Scale Cell Culture Media (LSCCM) cGMP Manufacturing facilities based in Haimen, Nantong (part of greater Shanghai), China.
“Upon completion of the Series A financing, we are pleased that our achievements to date and promising future have been recognized by several renowned investors, including New Alliance Capital, ADDOR Capital, and Tenyall & Sumin. This round of financing allows us to expand our integrated CMC services and to increase current media production capacity by building the world’s largest cell culture medium manufacturing facility,” said Shun Luo, Ph.D., Chairman of TOBIO. “We are very excited about this opportunity to further enhance our capabilities in CMC value chain including cell line development, process and bioanalytical development, and customized cell culture media development, so as to establish an integrated platform from DNA to clinical material supplies and successful regulatory filings, leading towards commercial manufacturing. We are able to establish strategic partnership with customers to effectively accelerate the speed of biologics development from bench to market, benefit patients worldwide. Our goal is to become world class CMC organization enabling our partners to provide affordable and accessible biologics for humanity,” added Dr. Shun Luo.
“TOBIO combines the expertise in cell cultural media development, early process development, and full CDMO services to build its high-quality platform for the biologics development, capturing opportunities in bringing promising CMC platform to enable global biologics development,” said Mr. Liefeng Qu, New Alliance Capital’s Chairman and Partner. “We are excited to lead a group of excellent investors in the direction TOBIO is taking. New Alliance Capital has substantial investment experience in the development of biologics and its related ventures. We believe that we will add value to the company in terms of its future growth,” added Mr. Liefeng Qu.
The financing was led by New Alliance Capital, and joined by ADDOR Capital, Tenyall & Sumin, Broadhi Capital, QianRong, Ji Lin Ao Dong, and Bluebay Capital; existing investor New Alliance Capital also participated to provide continuous support.
About Thousand Oaks Biopharmaceuticals
Thousand Oaks Biopharmaceuticals is a world-class integrated CMC organization which enables its partners to provide affordable and accessible biologics for patients worldwide. The company is committed to serve clients through innovation, global quality and strategic partnership by providing high quality raw material, consumables, novel equipment, technical services and consultation, integrated CDMO services including cell line development from DNA sequences, process, analytical and customized cell cultural medium development, early, late phase clinical material supply and commercial manufacturing, bioanalytical services and regulatory filings, to speed biologics development from bench through clinic to market. The company has global footprints in Shanghai, Haimen, and Lanzhou, China; and Thousand Oaks as well as Pleasanton, CA, USA. For more information, visit http://www.tobiopharm.com.
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SOURCE: Thousand Oaks Biopharmaceuticals, Inc.
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PUB: 01/03/2019 07:00 AM/DISC: 01/03/2019 07:01 AM