Thousand Oaks Biopharmaceuticals recently announced the signing of a 450 million yuan Series B round of financing.
The round was led by a fund under CICC Capital and Golden Stone Investment, with participation from CCB International, Wens, and Shanghai Huaxu.
Thousand Oaks Biopharmaceuticals is a developer of biopharmaceutical technologies intended to produce protein and vaccine compounds.
The company's technologies provide integrated control solutions, including the use of technical expertise to optimize the process and increase protein expression to reduce production scale, providing bio-pharmaceutical companies with personalized, chemical-defined cell culture media, formula production, technical support and ancillary services.
Proceeds from this round of financing will mainly be used for the construction of the serum-free cell culture media base project in Haimen and capacity expansion of the CDMO segment.
Dr. Luo Shun, Chairman and President of Thousand Oaks Biopharmaceuticals, said: "With this round of financing, we will further increase our production capacity and technical service capabilities, consolidate our leading advantage in the culture media industry in China, and strive to compete for the leading position of CMC organizations in the domestic biopharmaceutical field. "