Chime Biologics Announced the Completion of US$190 Million Series A+ Financing to Accelerate Capacity Expansion
（March 26,2021, Wuhan） Chime Biologics, a China-based, world-class CDMO company, announced today that it has secured a total commitment of US$190 million Series A+ investment from institutional investors in which over $100 million investment has already been closed today. This round financing was led by VMS Group and followed by Fidelity International and Panacea Venture. Earlier in February 2020 Chime Biologics has just completed its Series A financing of US$125 million.
Chime Biologics has built the world’s first GE Kubio modular bio-manufacturing facility in Wuhan Bio-Lake Biotech Industry Development Zone of China (China Optics Valley). The facility complies with global quality standards of ICH, FDA, EMA and NMPA. With its state-of-the-art facility and rich experience in bio-manufacturing, Chime Biologics provides one-stop integrated solutions to support the dynamic needs of the rapidly evolving bio-pharmaceutical industry from early drug development to late stage clinical and commercial cGMP production. Since 2016 Chime Biologics has maintained a success rate of 100% in bio-manufacturing and providing various customers with top-quality biopharmaceutical products.
Site-1 (Phase I plant in use)
In order to meet the increasing demands for CDMO services from various customers, Chime Biologics has already started the second phase of its facility expansion to increase the total manufacturing capacity to more than 140,000L within the next 5 years.
Site-2 (Phase II plant under construction)
“The successful completion of this financing round will further accelerate the capacity expansion process of Chime Biologics,”said Mr. James Huang, the Executive Chairman of Chime Biologics. “With the rapid growth of China’s biologics market and the surging demand for CDMO service, Chime Biologics will further leverage on its world-class quality system and commercial-scale manufacturing capabilities to continue providing our customers worldwide with first-class CDMO services.”
Mr. Andrew Ng, the Managing Director and Head of Healthcare of VMS Group said “We are very impressed by the manufacturing track record and fast-growing customer base of Chime Biologics. With our investment and strategic support，we strongly believe Chime Biologics could expand its production and business rapidly, and become one of the leading CDMO players both in China and the global arena in the near future.”
“It is the great honor of Chime Biologics to have the trust and recognition from internationally renowned institutional investors. We will continuously develop advanced technology platforms and more capacities to better serve our customers, and we always welcome biologics partners from all over the world to visit Chime Biologics, exchange ideas and seek for mutual collaboration” said Dr. John (Xianfang) Zeng, CEO of Chime Biologics Limited.
ABOUT CHIME BIOLOGICS
Chime Biologics is a world-class CDMO with operations in China that provides customer-centric and cost-effective outsourcing services for biopharmaceutical development and manufacturing. Its world’s first GE KuBio facility is located at Wuhan’s Bio-Lake biotech industry development zone of China, with clear path to expand the total capacity up to 140,000+ liters in the near future. Chime Biologics is ISO 14001:2015 and ISO 45001:2018 certified, and is committed to uphold the highest degree of integrity. Since 2016 Chime Biologics has been providing customers with clinical materials for pre-clinical and clinical stages globally and supporting their production scales from 50L, 200L, 500L to 2,000L across IND-enabling studies to late-stage CMC. Since then, Chime Biologics has been providing clinical supply to over 20 countries worldwide.
ABOUT VMS GROUP
VMS Group is a leading multi-strategy financial group, providing asset management (private equity, real estate and structured finance), brokerage and corporate finance advisory services. VMS Private Equity specializes in growth capital, with a focus on China-related investments in healthcare, technology, media, telecom (TMT) and consumer sectors. VMS healthcare practice focuses on the next innovative companies around the globe that could resolve unmet clinical needs across medical treatment, diagnosis and general health management. As of today, VMS Group has successfully completed more than 100 investments both onshore in China and offshore around the world since inception and currently manages in excess of USD 3.8 billion in total assets.
ABOUT FIDELITY INTERNATIONAL
Fidelity International offers investment solutions and services and retirement expertise to more than 2.5 million customers globally. As a privately held, purpose-driven company with a 50-year heritage, we think generationally and invest for the long term. Operating in more than 25 countries and with $706.3 billion in total assets, our clients range from central banks, sovereign wealth funds, large corporates, financial institutions, insurers and wealth managers, to private individuals.
Our Workplace & Personal Financial Health business provides individuals, advisers and employers with access to world-class investment choices, third-party solutions, administration services and pension guidance. Together with our Investment Solutions & Services business, we invest $541billion on behalf of our clients. By combining our asset management expertise with our solutions for workplace and personal investing, we work together to build better financial futures.
Data as at 31 December 2020. Read more at www.fidelityinternational.com
ABOUT PANACEA VENTURE
Panacea Venture is a science-focused venture capital firm focusing on investing in and incubating early stage life science companies with disruptive and breakthrough technologies and discoveries that can potentially address huge unmet medical needs and enhance quality of life. Our investment is focused and precise, we take very hands-on approach to our portfolio companies, often acting as members of the founding team; we bring in significant experience, expertise, resource, and network. Panacea Venture manages both a USD fund and RMB fund, and has an operation office in Shanghai, China. Our investment team are located in Europe, US and China covering most major life science hubs.