Recently, Pengbo Biotech announced that it has raised about US$220 million in Series C financing, led by Legend Capital. This round of financing will help Pengbo accelerate the capacity expansion and technology platform upgrade of biopharmaceutical and gene and cell therapy CDMO business, and enhance the synergistic benefits of Pengbo and healthcare investment.
Pengbo Biotech, a subsidiary of GenScript Biotechnology Co., Ltd. (hereinafter referred to as “GenScript”), is a one-stop biopharmaceutical company incubated by GenScript on the basis of its technological accumulation in the field of biopharmaceutical discovery and development and customer resources. R & D production platform. It is mainly committed to providing one-stop CDMO services for the biopharmaceutical and gene cell therapy industries. Since its establishment, Pengbo Biotech has undertaken more than 80 global CMC and CMO projects in the field of biopharmaceutical CDMO, and helped clients obtain more than 20 global IND approvals. In the field of gene and cell therapy CDMO, Pengbo has accumulated experience in more than 60 global CMC projects and more than 20 successful declarations of IND projects.
Shao Weihui, Rotating CEO of GenScript Biotechnology Co., Ltd., said: “Fengbo Bio is a contract R&D and production (CDMO) platform for biopharmaceuticals in the four major business segments of GenScript Group. Qihe Biotechnology Co., Ltd. promotes related pipelines, and at the same time attracts a large number of investors who are concerned about the field of medicine and health. A clear and forward-looking business layout, a sound management system and a solid talent team are the three pillars for the continuous development of GenScript and Prosperous Biotech. At the same time, in the face of the increasingly strong innovation atmosphere in the global biotechnology field, GenScript and Pengbo Bio will continue to stimulate innovation and create corporate vitality. Through this round of financing, Feng Bo Bio will better accelerate the global biopharmaceutical and The commercialization process of gene cell therapy has made great contributions to the medical and health industry. GenScript Group will also adhere to the corporate mission of “making people and nature healthier with biotechnology”, continue to promote the rapid development of business, and continue to provide medical services Contribute to the sustainable development of the health industry and human society.”
Meng Jiange, chairman of GenScript Biotechnology Co., Ltd., said: “We are very pleased to see that in the post-epidemic era where the investment environment is complex and changeable, Pengbo Biotech can attract many first-class investment institutions to jointly support the company’s development in biopharmaceuticals and gene cells. The development of CDMO treatment business. Pengbo Bio is the latest subsidiary of GenScript Group. Pengbo Bio has always adhered to the concept of “cooperating to accelerate innovation”, and has assisted many domestic and foreign pharmaceutical companies in recent years to reduce R&D costs and accelerate drug transformation Pengbo Bio will take this financing as an opportunity to further focus on the construction and optimization of a one-stop biopharmaceutical and gene cell therapy R&D and production platform, so as to push the company and the industry into a new stage of development.”
Wang Junfeng, Co-Chief Investment Officer of Legend Capital, said: “We are highly optimistic about the global competitiveness of China’s CRO/CDMO. Even if the external environment is complex, China’s top companies still have the opportunity to provide high-quality services to international customers and win a significant market share. GenScript Pengbo Bio is an excellent representative of China’s biopharmaceutical and cell gene therapy CDMO. In the past three years, its performance has grown rapidly and it has won wide trust from domestic and foreign customers. Looking back, the company’s technology accumulation, brand appeal, global customer base, and rich talents Echelon, perfect management system, and strong financing capabilities will further promote the company to a prominent position on the international stage. Legend Capital has more than 140 invested companies in the big health track, and has established a wide range of upstream and downstream ecological resources in the biopharmaceutical industry. We have rich cases and experience in management empowerment. We look forward to becoming a shareholder who can create value for Pengbo, grow together, and work together for a win-win situation!”
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related events
- Pengbo completed the C round of financing of 220 million US dollars2023-01-18
- Reindeer Bio completed the C1 round of financing of nearly 500 million yuan2023-01-18
- Crystal Nucleus completed nearly 100 million yuan in angel round financing2022-08-10
- Zhuokai Biological completed the B+ round of financing of tens of millions of yuan2022-04-13
- Heyuan Biotech has completed over 300 million yuan in financing, led by Loyal Valley Capital, and continues to lead the cell gene therapy business2020-09-23
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