Contract Manufacturing Organization Plans Rapid Expansion to Service Chinese Domestic and International Biologics Markets.
Suzhou – January 2, 2018 — CMAB Biopharma Inc. (CMAB), a full-service contract development and manufacturing organization (CDMO) providing process development and manufacturing services for biologic products, announces that it has completed series A financing of US$38 million led by C-Bridge Capital and BioBAY, with I-Bridge Capital and Qianhai FoF fund joining the consortium.
CMAB, located in the BioBAY Park, will provide services for development of manufacturing processes, analytical methods, and formulation plus manufacture of biologic drug substances and drug products. Initial services will generate pre-clinical and early-stage clinical (Phase I/II) products for Chinese and global clients. CMAB’s manufacturing follows global Good Manufacturing Practices (GMP) standards, including those of the China Food & Drug Administration, US Food & Drug Administration (21 CFR), European Medicines Agency (Eudralex), WHO, and harmonized PIC/S and ICH standards. Currently, CMAB has 65 employees and plans to increase to 180 staff within one year.
“Our experienced team is CMAB’s biggest asset,” according to President Mr. Liang Qibin.“The CMAB management team has extensive experience gained from international biopharmaceutical companies and has collectively delivered more than 100 CDMO projects, resulting in at least 40 IND applications for biological drugs. Our goal is to provide quality services and become the preferred trusted partner for our clients.”
Meng Jiang, Managing Director of C-bridge added, “With the regulatory advancement of MAH in China, we believe there is urgent need for high quality pure-play CDMO services. CMAB’s commitment to global quality standards is aligned with rising regulatory standards and the ultimate goal of bringing higher quality products to patients domestically and around the world.”