TOBIO Closed $45m Series A Financing to Advance Phase II CDMO

| By | CDMO, Financing, TOBIO
0
159

Thousand Oaks Biopharmaceuticals, an integrated global chemistry, manufacturing and controls (CMC) organization including GMP cell culture media and biomanufacturing capabilities, has closed a $45 million Series A financing round to advance its phase II contract development and manufacturing organization (CDMO) operations; at the same it has started construction of its large-scale cell culture media (LSCCM) cGMP manufacturing facilities based in Haimen, Nantong, a part of greater Shanghai, China.

Upon completion of the Series A financing, we are pleased that our achievements to date and promising future have been recognized by several renowned investors, including New Alliance Capital, ADDOR Capital, and Tenyall & Sumin,” said Shun Luo, chairman of Thousand Oaks. “This round of financing allows us to expand our integrated CMC services and to increase current media production capacity by building the world’s largest cell culture medium manufacturing facilityWe are very excited about this opportunity to further enhance our capabilities in CMC value chain including cell line development, process and bioanalytical development, and customized cell culture media development, so as to establish an integrated platform from DNA to clinical material supplies and successful regulatory filings, leading towards commercial manufacturing. We are able to establish strategic partnerships with customers to effectively accelerate the speed of biologics development from bench to market, benefit patients worldwide. Our goal is to become world class CMC organization enabling our partners to provide affordable and accessible biologics for humanity.”

SOURCE: Contract pharma
SHARE
GMP news
Pharmaceutical industry News and events. Technology transfer and contract manufacturing of medicines.