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Biologics CDMO secures $59.1 Million series A financing round
January 30, 2019
By: Tim Wright
MabPlex International, a contract development and manufacturing organization (CDMO) serving the global biopharmaceutical and biotechnology industries with sites in China and the U.S., has closed its series A funding of $59.1 million backed by multiple global investors led by China’s State Development & Investment Corporation (SDIC) and Shenzhen Venture capital. This financing round will support upgrades to MabPlex’s technology platform, Phase III and commercial production expansion, as well as the company’s international strategy. “With our professional services and international standards, R&D companies can not only shorten product development time, but more importantly, they can use limited funds for new drug projects themselves, reduce R&D risks and increase corporate value,” said Jianmin Fang, chairman and chief executive officer, MabPlex. “This financing will greatly enhance our service capabilities, we will continue to provide high quality services to our customers.” Founded in 2013, MabPlex currently has two sites in China (Yantai and Shanghai) and one site in the U.S. (San Diego, CA) offering services from biologics drug development to commercial manufacturing.
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