Jiangsu Puxin Biopharmaceutical Co., Ltd. ("Puxin Bio" or "the Company") has continued to attract capital attention within two months after the completion of the Pre-A round of financing. It announced that it has recently completed another tens of millions of Pre-A+ round of financing. This round of financing was participated by Suzhou Talent Fund (Phase II), Ningbo Honghou Kangrui Medical Health, Weifang Shengwei, Suzhou Tiankai Huijin, Suzhou Dongwu Lingjun, Wuzhong Economic Development Talent Investment, Suzhou Suxin Taihao, and Suzhou Xingyao Taihao. Among them, the old shareholder Weifang Shengwei continued to increase its investment. The funds raised in this round will be further used for technology development and market expansion, focusing on investment and strengthening the quality control and testing service capabilities of virus and cell products, and better meeting the growing market demand with unique CQDMO services.
Spectrum Biopharma is a CQDMO (Contract Development, Manufacturing and Quality Control) service company focusing on cell-based drugs, with more than 100 industrial clients. The company started operating independently at the end of 2020, received orders of RMB 120 million in 2021, completed a Pre-A round of financing of nearly RMB 100 million in March 2022, and received orders of more than RMB 300 million in the first quarter. The company is one of the few companies in China that can provide customers with full-process process development, quality control testing, IND filing, clinical registration and commercial production services for immune cell products (CAR-T, TCR-T, CAR-NK, etc.) and stem cell products, and is actively expanding service areas related to the industrialization of cell-based drugs.
Li Cha, COO of Spectrum Bio: Like traditional drugs, cell drugs must also follow the principles of safety, effectiveness and quality control during the research and development and industrialization process. For cell drugs, a "new" and "living" drug form, enterprises and industries need to establish and optimize safe, effective, economical and fast product quality release strategies and standards based on their characteristics and clinical needs. With the rapid advancement of the industrialization process of the cell therapy industry, higher requirements and challenges have been continuously raised for drug quality. While deepening its cell therapy CDMO services, Spectrum Bio has focused on building a quality control platform for the needs of each stage of cell drug industrialization based on industry pain points and needs, and officially launched a CQDMO service system with "quality" as the core. Thanks to the trust and support of new and old shareholders, Spectrum Bio will continue to deepen its cell drug service field and build stronger delivery capabilities and technological innovation capabilities. Provide more customers with high-quality full-process services, so that the majority of patients can benefit from high-quality cell drugs as soon as possible. "
About Spectrum Bio:
Headquartered in Wuzhong District, Suzhou City, on the beautiful shore of Taihu Lake, it has Suzhou headquarters (10,000m2 GMP plant and R&D center), Shenzhen and Shanghai bases, initially forming a nationwide production base network layout; the North Carolina base in the United States is also under construction, and the global layout is being carried out simultaneously. It has built a nucleic acid platform dedicated to cell drugs, a suspended serum-free virus production platform, a fully enclosed cell process development platform and a quality control and detection technology platform, creating a highway for cell drugs from discovery to product delivery. The platform has supported multiple partners to successfully incubate a variety of CAR-T, TCR-T, stem cell and other drugs. Spectrum Bio is committed to allowing more projects to reach the next milestone earlier and faster, bringing more cell drugs to the market, benefiting more patients, and allowing cell drugs to write a new chapter in life.
About CQDMO:
CQDMO service (contract development, manufacturing and quality control) is a unique innovative service model of Spectrum Bio focusing on the field of cell drugs. Based on the characteristics of the cell drug development process and its own deep understanding of cell drugs, A mature cell drug quality control testing solution has been established, so that customers can be provided with complete, three-dimensional, and strictly quality-assured cell drug full-process CQDMO services. We sincerely invite major biotechnology companies, pharmaceutical companies, scientific research and clinical institutions to discuss business and cooperation.
About Suzhou Talent Fund (Phase II):
Under the guidance of Suzhou Talent Office, it was initiated and established by Suzhou Asset Management and other institutions. The fund drives innovation with capital and supports the innovative development of Suzhou's leading talent enterprises. Zhuopu Capital serves as the fund manager, focusing on leading industries such as new generation information technology, biomedicine, intelligent manufacturing, and nanotechnology, and promoting the high-quality development of Suzhou's industrial innovation cluster. Suzhou Talent Fund (Phase II) believes that: With the approval of Fosun Kite and Innovent Biologics' cell gene therapy (CGT) products for marketing, cell and gene therapy has become a new generation of precision therapy for tumors, rare diseases, chronic diseases and refractory diseases after small molecule and macromolecule targeted therapies. Domestic CGT The CDMO industry is experiencing rapid development. Spectrum Bio is the first CDMO commercial transformation evaluation and service platform company in China to obtain a cell therapy drug production order under the MAH system. It has the ability to provide customers with continuous services for CGT drugs such as CAR-T, TCR-T, and stem cells.
About Xingyao Taihao Fund:
Relying on the No. 1 Industrial Park, it innovates the "base + fund" dual-wheel drive model, focusing on medical devices, biopharmaceuticals, CRO, CDMO services and other related fields, providing diversified investment and financing solutions, and helping companies develop rapidly through the "fund investment + post-investment service" model. Shan Li, investment director of Xingyao Taihao Fund, believes: As various cell technologies continue to mature, they are expected to provide new treatment methods and huge clinical value. The Spectrum Biotech team led by Dr. Li Hongjian and Dr. Zhu Yi has many years of relevant research and development experience. We look forward to the Spectrum Biotech team providing better CDMO services in this field in the future, accelerating clinical trials and production, and ultimately benefiting the majority of patients!
About Ningbo Honghou Kangrui Medical Health Equity Investment Partnership (Limited Partnership):
As a medical health special fund associated with Beikeshe, a leading domestic medical entrepreneurship platform, it adheres to the concept of benevolence and supporting independent innovation in the field of medical health, focusing on CXO, medical devices, high-value consumables and vaccines and other sub-tracks. It has currently invested in Yidu Bio, Yishen Bio and other projects. Mo Lijiang, President of Honghou Asset Management: I am honored to participate in this round of financing of Spectrum Bio, and to witness the development of the leading domestic cell therapy CDMO company as a shareholder. Cell and gene therapy has developed rapidly in recent years. This therapy penetrates into the basic components of the human body to treat tumors and many rare diseases, and is expected to bring a series of epoch-making changes and leaps to human health. The Spectrum Bio team has been deeply engaged in the research and development of cell therapy drugs and their CDMO fields for many years, and has built the company into a leading domestic star enterprise with industrialized core technologies and integrated solutions, and has also made the company a long-term beneficiary of the industry's trend. This investment expresses our strong commitment to cell therapy and its C The firm optimism about the "long slope" track of DMO, especially the high recognition of the professional accumulation and industry advantages of the Specxin team. Jiang Huixia, founder of Shell Society: Dr. Li Hongjian, the founder of Specxin Biotech, is a student of the 4th session of Shell Society. Through the platform of the society, we have a deeper research and recognition of Specxin Biotech. In the future, Shell Society will give full play to the industrial ecological foundation of the medical and health industry, the industrial park agglomeration of Qinglan Harbor, and the advantages of the "Huangpu Military Academy" for entrepreneurs in China's medical and health industry, to provide Specxin Biotech with multi-faceted medical and health resource empowerment, industrial collaboration and business collaboration. We also look forward to Specxin Biotech, under the leadership of President Li, making more outstanding contributions to the development of China's cell therapy field.
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