Porton Advanced Solutions, a Suzhou, China-based provider of gene and cell therapy (GCT) CDMO platform to help bring new therapies to patients, closed its Series B financing round with over US$80m.
Current round of financing was led by China Merchants Groups’ healthcare PE fund Merchant Health, along with its sister fund China Merchants Capital, China Merchants Securities Investments. In addition, a number of venture and private equity firms participated in the current round of financing, including Fosun Health Capital, Gortune Investment and SDICTK. Apart from the new investors, current shareholders, Porton Pharma Solutions, CS Capital, HM Capital, Ruilian Investment and Momentum Venture, also participated in the current round.
The company will use the proceeds to continue its business expansion into different markets, with investment in core manufacturing infrastructures and in global commercial operations.
Focusing solely on gene and cell therapy CDMO services, Porton Advanced has rapidly established an integrated CDMO platform providing a spectrum of services covering plasmids, cell therapy, gene therapy, oncolytic virus, nucleic acid therapy and microbial vectors used for gene therapy (MVGTs). Current operational footprint includes a 40,000sqft R&D and GMP production facility already in operation for over two years, which delivered a number of plasmids, viruses and cell batches to our sponsors. A 160,000sqft facility for commercial production will be operational in the end of 2022/early 2023. By then, Porton Advanced will have over 200,000sqft of PD, AD, and GMP manufacturing facility dedicated for gene and cell therapy. In total, the company will have 10 GMP viral vector production lines, 10 GMP cell therapy production lines and hundreds of clean rooms. Such a scale and footprint would allow Porton Advanced to upgrade its AAV, oncolytic virus and mRNA CDMO capacity and capability which in turn empower our sponsors and support the GCT industry.
The company is led by CEO Dr. Wang Yangzhou.