China-based healthcare company Thousand Oaks Biopharmaceuticals has secured around $64 million in its Series B funding round, the media reported.
The funding round for Thousand Oaks was led by CICC Capital’s sub-fund CICC Jiatai and CITIC Securities’ private equity arm Goldstone Investment Limited.
Other investors that participated in the funding round include China Construction Bank’s investment vehicle CCB International, Wens Investment and Shanghai Huaxu Investment.
Shun Luo, chief executive officer at Thousand Oaks told the media, “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 facility.”
“We 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 partnership 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 organisation enabling our partners to provide affordable and accessible biologics for humanity.”
According to Thousand Oaks, which is headquartered in East China’s Jiangsu province, it has served leading pharma firms such as HK-listed oncology-focused Innovent, molecular nuclear oncology therapy developer SmartNuclide Biopharma, Suzhou Zelgen Biopharmaceuticals, and Stainwei Biotech.
Last year, the firm raised around $45 million in its Series A funding round to expand its CDMO and CMC services.