Shanghai ZhenGe Biotech Raises USD100M in Series C Funding

Shanghai ZhenGe Biotech, a Shanghai, China-based company focused on providing a macromolecular biological drug CDMO service, raised USD100M in Series C funding.

The round was led by Goldman Sachs Asset Management and Sofina with participation from Novo Holdings A/S, Qiming Venture Capital, IDG Capital, LYFE Capital, Junxin Capital and Cowin Capital.

The company, which has raised a total of US$225m to date, intends to use the funds to expand its Good Manufacturing Practice (“GMP”) manufacturing capacity to better meet demand from domestic and international clients.

Led by Mr. Jianxin Chen, Chairman and CEO, Shanghai ZhenGe Biotech provides Contract Development and Manufacturing Organization (CDMO) services and offers end-to-end solutions to help customers discover, develop, and manufacture biologics from concept to commercialization. It provides such services as: macromolecule developability analysis, cell line development, process development and optimization, pilot production, clinical sample production and commercial CMO services, process characterization and validation research, drug analysis services, cell culture medium formulation development and commercial production.

To date, the company has served more than 100 biopharma and biotech customers and has completed over 150 projects, ranging from cell line development projects to Investigational New Drug (IND) applications and large clinical phase production contracts. Over the years, ZhenGe Biotech has developed deep expertise across monoclonal and bispecific antibodies, Antibody Drug Conjugates (ADC), fusion proteins and vaccines.

The company integrates advanced cell culture platform, metabolite analysis platform, recombinant protein analysis platform and customized medium development and production platform for customers to improve titer yield and quality. In addition, ZhenGe Biotech provides advanced analytical services, including Analytical Ultra-centrifugation (AUC) to help customers with overseas drug approval applications. 

In addition to R&D Centers across Shanghai and Maryland, USA, ZhenGe Biotech has a 10,000 ㎡ GMP pilot production center in the Lingang Special Area of China (Shanghai) Pilot Free Trade Zone (FTZ), a GMP medium production line with an annual output of 200 tons of dry powder, and a commercial manufacturing base with three 2,000L and three 5,000L bioreactors, which are currently under construction.