JHL Biotech, Inc., a Hsinchu, China-based biopharmaceutical company, closed a $45.6m Series C funding.
The round was led by funds managed by a global crossover fund, with participation from existing investor Milestone Capital and new investors Sungent BioVenture and Liwick Investment Management.
The company, which has raised over US$135m in total, intends to use the funds toward continuing development of its biosimilar programs through clinical trials, enabling the construction of a fill-finish facility in Wuhan’s commercial manufacturing plant, expanding its pre-clinical novel therapeutic portfolio, and applying the rest towards working capital. With this round of financing, JHL has now secured capital necessary to complete the full development and BLA filing of at least two of its proprietary biosimilar compounds.
Incepted in 2012 and led by Racho Jordanov, President and CEO, JHL Biotech JHL Biotech focuses on bioengineering as well as innovative manufacturing solutions to develop, manufacture, and commercialize affordable biologic medicines. The company also enables global partners with the opportunity to access the local China market through domestic bioengineering, process development and cGMP manufacturing services.